Vijayawada, Aug. 21 -- The Andhra Pradesh Government's efforts to transform the state into the East Coast gateway for maritime trade are becoming a reality.
APM Terminals, a subsidiary of the global shipping and port management giant A.P. Moller-Maersk, has signed an MoU with the AP Maritime Board for the development of ports in the state.
With an investment of Rs 9,000 crore, APM Terminals will develop infrastructure and modernize the Ramayapatnam, Machilipatnam, and Mulapeta ports. The MoU was signed in the presence of Chief Minister N Chandrababu Naidu.
The company will establish and operate modern terminals and cargo handling systems at these ports. This initiative is expected to create direct employment opportunities for about 10,00...