D P World Ltd has sold a 26 percent share in Visakha Container Terminal Pvt Ltd to J M Baxi Ports & Logistics Ltd, a unit of Mumbai-based logistics giant J M Baxi Group. This marks the exit of DP World from Visakha Container Terminal. The federal government-owned Visakhapatnam Port Authority on the country’s eastern coast operates the Visakha Container Terminal, which has a capacity of 1.35 million twenty-foot equivalent units (TEUs). The terminal handled 5,12,000 TEUs in the year to March 2022, up from 4,81,000 TEUs in FY21.
“The acquisition of 26% stake from D P World gives J M Baxi complete control over a large hub terminal on the east coast. Along with our extensive terminal and rail networks on the east coast, we are now positioned to give shipping lines/ large importers and exporters a one-stop solution for their shipping needs from door to door. J M Baxi is now the most vertically integrated maritime logistics company on the east coast,” a spokesperson for J M Baxi said while confirming the deal. In June 2003, VCT commenced its operations on a 30-year concession with a capacity to load 0.6 million TEUs. The terminal operator in March of this year opened a new terminal, adjacent to its existing facility, with a capacity to handle 0.75 million TEUs, taking the total capacity of the terminal to 1.35 million TEUs. Post expansion, the terminal has a berth length of 845 meters.