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Thursday, November 02, 2000

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Vizag port posts all-time high operating surplus

Our Bureau

VISAKHAPATNAM, Nov. 1

THE Visakhapatnam Port Trust (VPT) has achieved an all-time high operating surplus of Rs 105.53 crore during 1999-2000 as against Rs 92.50 crore during 1998-1999.

The VPT board has approved the administration report and annual accounts for 1999-2000 in the special board meeting held here.

The net surplus during 1999-2000 was Rs 86.21 crore before making appropriations which were of special nature and which were not made during the previous years as against the net surplus of Rs 68.84 crore in 1998-1999.

The special appropriations made during the last financial year included wage revision arrears to Class III and IV employees, provision made for earlier years towards arrears of an additional depreciation due to change in life norms on plant and machinery as per the Government directions and creation of pension fund.

The VPT has spent Rs 95.38 crore on infrastructure development projects in 1999-2000 which was the higher ever spent by the port in the financial year.

The VPT had achieved the highest cargo throughput of 39.51 million tonnes in 1999-2000 as against 35.65 million tonnes in 1998-1999.

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