About ICTPL

The Visakhapatnam Port Trust (VPT) has embarked on a project to revamp the West Quay-6 (WQ-6) terminal in the Northern Arm of the Inner Harbour at Visakhapatnam Port, focusing on handling dry bulk cargo through a Design, Build, Finance, Operate, and Transfer (DBFOT) model. Following a competitive bidding process, M/S Orissa Stevedores Ltd (OSL) was selected as the successful bidder. To manage the project, a Special Purpose Vehicle (SPV) named Integrated Cargo Terminal Pvt Ltd (ICTPL) was established, holding 99.9% of its shares by OSL and 0.1% by Mr. Chandan Mishra, a director at OSL. A concession agreement was signed with VPA on 26th of March 2024 for a duration of 30 years commencing from 11th of December 2024 I,e from the date of the award of the concession.

ICTPL officially commenced operations by berthing its maiden vessel, MV KSL FUYANG, at the newly upgraded facility on December 14, 2024. The vessel was loaded with 20,000 metric tons of rough granite blocks for Elite Shipping Agencies. This event was attended by senior officials from the Visakhapatnam Port Authority (VPA), underscoring the strong partnership and support between ICTPL and the port authority.

This successful launch marks a significant milestone for ICTPL and highlights its commitment to enhancing port efficiency and contributing to the growth of India’s cargo logistics sector. The operation of the MV KSL FUYANG not only signifies the start of ICTPL’s 30-year journey but also reflects the company’s dedication to innovation, reliability, and excellence in the maritime industry.