"The government has approved mechanisation of three berths at Paradip Port for handling of thermal coal, at an expenditure of Rs 1,438 crore on BOT (build, operate,transfer) mode under PPP," Road Transport, Highways and Shipping Minister Nitin Gadkari told reporters.
Gadkari said after completion of the project, the port can handle export of 50 million tonnes of coal. This will help the port to meet the growing demand of thermal coal over the next three to four years. The port has handled 70 million tonnes of cargo in 2014-15 and registered a profit of Rs 921 crore, he said.
It said the estimated cost of the project is Rs 1437.76 crore of which Rs 1,412.76 crore will be spent by the concessionaire and the remaining Rs 25 crore will be spent by the Paradip Port Trust on dredging.
"The project envisages mechanisation of EQ 1, 2 and 3 Berths to increase their capacity from the existing 7.85 million tonnes to 30 million tonnes," the statement said.
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Paradip Port is one of the 12 major ports of India serving the eastern and central parts.
Its hinterland extends to Odisha, Jharkhand, Bihar, Chhattisgarh, West Bengal, Madhya Pradesh and other upcountry destinations.
The Port mainly deals with bulk cargo apart from other clean cargoes.