No doubt it is vision and work of CBN in the first place, that is bearing the fruits now. If he didn't do it, it would have taken few more decades.
It is actually in resonance with his Vision 2020 to improve AP infrastructure drastically, he went aggressive about roads and ports.
It adds to confusion that unlike kakinada and gangavaram ports, krishnapatnam guys didn't mention the history in their website.
http://www.gangavaram.com/about-port.htm
http://kakinadaseaports.in/?page_id=6
Another source that mentions brief story of KPCL
https://www.bseindia.com/downloads/ipo/200933116251KPCL-Disclosure Document -Final.pdf
In consonance with the programme of liberalization, State Government of Andhra Pradesh (GoAP) had invited bids from private sector parties for the development of four minor ports in the State, including Krishnapatnam Port, on Build, Operate, Share & Transfer (BOST) basis. GoAP accepted the offer for development of Krishnapatnam Port by the NATCO group-led consortium. GoAP & the NATCO Group of Companies have entered into a Memorandum of Understanding (MoU) in this regard on March 10, 1996. On 15th March 1996, NATCO Group of Companies incorporated Krishnapatnam Port Company Ltd.
(KPCL) as a Special Purpose Company (SPC) for the development of the Port. Subsequently the Concession Agreement (CA) was executed between GoAP & KPCL on January 4, 1997. KPCL requested GoAP for certain amendments in agreement in order to make the project bankable and in line with other port concessions given to private developers in the state. GoAP has agreed to certain amendments to the agreement dtd. 04/01/1997. GoAP has approved the DPR on 25/06/1999. The DPR was revised by KPCL and submitted to GoAP on 07/04/2003. Subsequently, the revised CA was executed between KPCL & GoAP on September 17, 2004. Subsequently, the NAVAYUGA Group has joined the consortium as a majority partner.
Another source:
http://media1.autohaus.de/fm/3576/9909991394updateportsector.pdf
2.4.7.3 Status of Privatized Ports
(i) Kakinada Deep Water Port was privatized in March 1999 to M/S ISPL on OMST terms for 20 years.
(ii) Krishnapatnam Port was privatized in Jan 1997 on BOOT terms to M/S Krishnapatnam Port Company Ltd.(NATCO) for 30 years. Revised agreement was signed on 17-9-2004. Navayuga Engineering Company has taken 74% equity stake in KPCL and NATCO 26%.
(iii) Gangavaram Port was privatized in August, 2003 for development of Deep Water Port on BOOT terms initially for 30 years. The port has started handling cargo.
