The State government is actively seeking international partnerships to speed up port-led infrastructure growth, aiming to generate extensive employment opportunities and help achieve its ambitious goal of becoming a $2 trillion economy by 2047.
This strategy is part of the State’s vision to establish itself as a world-class maritime hub by 2030, emphasising sustainable economic and coastal development.
At the 29th Economic Development Cooperation Fund conference, held in Seoul on Tuesday by the Export-Import Bank of Korea (KEXIM), Andhra Pradesh Infrastructure and Investment Department Secretary S Suresh Kumar presented this bold vision. Invited by KEXIM, Suresh Kumar is on a five-day tour in South Korea to discuss potential collaborations.
His agenda includes meetings with senior officials from Korea’s shipbuilding industry, exploring partnerships for establishing shipbuilding and repair facilities in Andhra Pradesh. Meetings with leaders from Busan Port Authority, Hanjin Industries, and Hyundai Industries also underscore efforts to showcase AP’s maritime sector potential.
“Our goal is to create world-class infrastructure and attract both global and domestic investments, making the State a prime industrial hub in India by 2030,” said Suresh Kumar.
He highlighted the State’s commitment to sustainable development through strategic policies and efficient governance, adding that a robust maritime industry could position Andhra Pradesh as a leader in India’s maritime sector.
Currently, AP has one major port in Visakhapatnam and five smaller ports, which collectively handled 198 million tonnes of cargo in 2023. With four new non-major ports at Ramayapatnam, Machilipatnam, Kakinada (Gateway), and Mulapet expected to be operational by 2025-26—representing a combined investment of over Rs 16,000 crore—the State’s cargo handling capacity will increase by 110 million tonnes.
The government’s focus now is on expanding port-led industrial activities, including shipbuilding, repair, and recycling, which would create thousands of jobs.
“We are concentrating on Proximal Area Development near ports, shipyard facilities, and allied maritime activities,” said Suresh Kumar. Additionally, a 5,000-acre land bank near upcoming greenfield ports has been earmarked for industrial setups, with the government inviting private sector investments in ports and a new fishing harbour.
