To give boost to inland water transport, Government of Andhra Pradesh entered into an MoU with Inland Waterways Authority of India for development of National Waterway 4 at estimated cost of around Rs. 3,000 Crore.
Once developed, this waterway will help take off roads significant portion of cargo traffic. The MoU was signed during the first ever Maritime India Summit held in Mumbai. AP Chief Minister N. Chandrababu Naidu was present on the occasion.
Meanwhile, the Visakhapatnam Port Trust signed an MoU with HPCL which plans to increase the capacity of Visakha Refinery from 7.50MMT to 15MMT at an estimated cost of Rs. 18,412 Crore. (INN)