India Approves Paradip Port Mechanization Project
India’s Cabinet Committee on Economic Affairs (CCEA) has given its approval to the project of mechanization of East Quay berths-1, 2 and 3 at Paradip Port on build, operate and transfer (BOT) basis, under public private partnership (PPP) mode for handling thermal coal exports.
The estimated cost of the project is around INR 1,438 crore (USD 220 million), of which INR 1413 crore will be spent by the concessionaire. The remaining INR 25 crore will be spent by the Paradip Port Trust on dredging.
The project envisages mechanization of the three berths to increase their capacity from the existing 7.85 million tons to 30 million tons.
The project is scheduled to be completed within three years from the date of award of concession.
After completion of the project, the total thermal coal export handling capacity at Paradip Port, one of the state-owned Major Ports, is expected to reach 50 million tons.