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India: Cyclone losses to Visakhapatnam industries estimated at over $1.6 billion

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Initial estimates have suggested that losses to industries in Visakhapatnam, India, from the cyclone Hudhud would reach over 100 billion Indian rupees ($1.62 billion), reports The Hindu Business Line.

Visakhapatnam port may incur a loss of over INR 3 billion. Hudhud has resulted in a loss of about INR 5 billion to Hindustan Shipyard Ltd. Rashtriya Ispat Nigam Ltd.'s union leaders estimate the loss to be INR 40 billion. Estimates also indicate a loss of INR 2 billion for pharmaceutical firms in the city.

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