May 31, 2022
The union government plans to develop Paradip port in Odisha into a mega port with various projects involving Rs 3,004.63 crore to quicken port-led development in the Eastern states of India.
According to the reports, the project involves deepening and optimizing inner harbor facilities, including developing the western dock on a build, operate, and transfer (BOT) basis under Public-Private Partnership (PPP) mode at Paradip Port. The project’s estimated cost includes the development of the new Western Dock on a BOT basis and capital dredging by the selected concessionaire at the expense of Rs 2,040 crore and Rs 352 crore, respectively.
Paradip Port’s investment will be to the tune of Rs 612.5 crore towards providing common supporting infrastructure. The project will facilitate the decongestion of the Port, making coal imports cheaper, and boost the Port’s hinterland’s industrial economy, leading to job opportunities. The Port, after the project, can easily handle huge ships for which an 18-metre draft is required resulting in a reduction in logistics costs and will boost international trade.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said “The success of the project is a milestone towards Paradip Port becoming a Mega Port. The project will enhance the Port’s ability to handle Cape Size vessels, contribute to Port’s capacity addition of 25 MMTPA (Million Metric Tonne Per Annum), and improve Port efficiency and better cargo handling, increased trade and employment generation.”
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