Gangavaram Port, located in Andhra Pradesh, is India's deepest port. Inaugurated in July 2009, it has a depth of 21m. It is managed by Gangavaram Port Ltd., a special-purpose company floated by Mr. DVS Raju, who serves as its Chairman and Managing Director. The company is owned by the DVS Raju Group (59%), global Private Equity firm Warburg Pincus (30%) and the Andhra Pradesh Government (11%).
Construction of the port began in December 2005, and commercial operations commenced in August 2008. The port was formally inaugurated in July 2009, by the Andhra Pradesh Chief Minister Y S Rajasekhara Reddy.