New Delhi: The Paradip Port is set to get a facelift so as to handle cape size vessels with an ultimate capacity of 25 MTPA (Million tonnes per annum) in two phases of 12.50 MTPA each, at an estimated cost of Rs. 3,004.63 crore. The Cabinet Committee on Economic Affairs today approved a project to this effect, for deepening and optimisation of Inner Harbour Facilities under Public-Private Partnership (PPP) mode. The project includes development of a new western dock and capital dredging by the selected concessionaire at a cost of Rs.2,040 crore and Rs.352.13 crore respectively. Paradip Port’s investment will be to the tune of Rs.612.50 crore towards providing common supporting project infrastructure like breakwater extension and other ancillary works to facilitate handling of cape size vessels..
On commissioning of the project, it shall cater to the requirement of coal and limestone imports besides export of granulated slag & finished steel products considering the large number of steel plants established in the hinterland of Paradip Port. The project shall also facilitate (i) de-congestion of the port, (ii) reduce sea freight making coal imports cheaper, and (iii) boost the industrial economy in the hinterland of the port leading to creation of job opportunities, the CCEA stated.
It may be mentioned that the Paradip Port Trust (PPT), a major port under Government of India and administered under the Major Port Trusts Act, 1963, was commissioned in 1966 as a mono commodity port for export of iron ore. In the last 54 years, the port has transformed itself to handle a variety of Exim cargoes which include iron ore, chrome ore, aluminium ingots, coal, port of loading (POL), fertilizer raw materials, lime stone, clinker, finished steel products, and containers.
In particular, the demand for import of coking coal and fluxes and export of finished steel products has been increasing in view of number of steel plants established in the hinterland of the port necessitating capacity creation to cater to the port hinterland requirements.
– global bihari bureau
