Paradip port launches Rs. 900cr expansion

Jagatsinghpur : Paradip Port Trust (PPT), which is in the process of building coal and iron ore berths, has fast tracked its expansion plans with the environment ministry giving go ahead signal for the mega port project entailing an investment of Rs. 900cr. The port is building two berths each with a capacity of 10 million tons on public private partnership (PPP) model, Chairman, G J Rao, said adding that the PPT has not yet secured clearance for multipurpose berth and oil jetty but they are also expected very shortly.

In this connection the PPT has already inked agreements with Blue Water Iron Ore Terminal Private Limited, a special purpose vehicle for iron ore berth and another with Essar Paradip Terminals, the SPV floated by the Essar Group. The port has clocked 7.14 percent growth in traffic in the first quarter of the current fiscal at 14.6 mt as compared to 13.6 mt druing same period last year. The increase is largely due to rise in throughputs of two items including coking coal imports clocking at 1.7 mt and petroleum products 3.8mt as compared to 1.3 mt and 3.2 mt respectively during the corresponding period previous year.