'With the opening of this port, many new industries will come up in coastal Andhra, which has already been identied as petro-chemical corridor by the government of India,' he said.

Neighboring states Chhattisgarh and Orissa are also expected to get benefited from this port, as heavy equipment and materials required for setting up major industries in these states can be handled here.

The new port provides cargo handling services for a variety of bulk cargo including coal, iron ore, fertiliser, limestone, foodgrains, steel products and petrochemicals. Visakhaptnam Steel Plan is benefited from the new port.

YSR, as the chief minister is popularly known by his initials, said his government was committed to develop one port in each of the nine coastal districts to ensure comprehensive development of the region.

Gangavaram port has 2800 acres of land and can be developed in a phased manner over the next 50 years. The road and rail connectivity is also close to the site.