Vizag - Economy
The city's growth has mostly been due to its heavy industries (both state-owned and private), such as:
- HPCL – Oil Refinery (Hindustan Petroleum Corporation Limited)
- Vizag Steel Plant
- Hindustan Zinc Limited
- Bharat Heavy Plate and Vessels Ltd (BHPV).
- Hindustan Shipyard Limited
- Visakhapatnam Port Trust
- Coromandel Fertilizers
- National Thermal Power Corporation
- Dredging Corporation of India Limited
- Rain Calcining Limited
- Essar Pelletization Plant (Recently a major expansion occurred. The iron ore now used by this plant comes via a pipeline 267km long from Bailadila, helping reduce transportation costs substantially.)
- HSBC
Total logistics India Pvt Ltd
Its traditional importance in shipbuilding is confirmed by the fact that India's first ship, the "Jala Usha", was launched in Vizag.
Vizag is also one of India's main fishing ports, has a dedicated harbour for the fishing industry and handles a large percentage of India's seafood exports.
The Vizag Special Economic Zone plays a vital role in the industrial growth of the city.
The Andhra Pradesh government has confirmed deals with Satyam and Wipro to set up a presence in the city. Satyam's office has already been built and is ready to start work. Wipro's office is coming up on the site of the old TB hospital. The Bhabha Atomic Research Centre has also expressed interest in setting up a research centre and a nuclear power plant here.
