Visakhapatnam Port Trust had implemented the upgradation of existing iron ore handling facility at Outer Harbour of Vizag Port. The project was undertaken at a cost Rs 580 Crore. The project comprises modernising and upgrading the 40 year old iron ore handling facility so that it can handle larger vessels of 2 lakh DWT with loading rate of 8000 MT/hour. Capacity enhancement would be to 16.20 MTPA from 12.50 MTPA. The work was awarded to ESSAR Vizag Terminals Ltd on DBFOT basis with revenue share of 31% on 14.5.2015. The upgradation work got completed on 31st May, 2018. Nitin Gadkari, Minister of Shipping, Road Transport & Highways, Water Resources, River Development and Ganga Rejuvenation will soon inaugurate the project.