Paradip Port Trust eyeing 270 mn capacity by 2023

Buoyed by 38 per cent jump in its operating revenue and over 20 per cent rise in traffic during 2013-14 compared to the previous year, Paradip Port Trust (PPT) has taken steps to raise the cargo handling capacity to 270 million tonnes (MT) by 2023.
"PPT achieved all-time record traffic of 68 million tonnes during 2013-14 as against previous year's traffic of 56.55 million tonnes, exhibiting a growth of 20.25 per cent year-on-year," PPT Chairman S S Mishra told reporters here.
The traffic handled by the port during the year is the second highest in terms of cargo handled and also second highest in terms of percentage growth of cargo amongst all major ports in the country, he said.

"During the year, the port secured the second position from 5th position in terns of cargo handled," Mishra said.
Describing the financial performance during the last fiscal as excellent, the PPT Chairman said the port achieved a total revenue of Rs 1,068 crore, showing year-on-year growth of 34 per cent; while operating revenue rose to Rs 915 crore, registering a growth of 38 per cent.
Similarly, operating surplus of Rs 365 crore showed 50 per cent Y-o-Y growth and surplus after tax mounted to Rs 233 crore registering growth of 24 per cent, he said, adding, the port surpassed financial targets set by the Ministry of Shipping for 2013-14.

As the port took impressive strides in performance parameters, the average turnaround time, average berth day output and average pre-berthing waiting time have improved by 11 per cent, 9 per cent and 6 per cent, respectively over the corresponding figures of the previous year, Mishra said.

Encouraged by efficient functioning, the port has taken up a host of projects to increase the capacity from existing 108.50 mtpa to 270 mtpa by the end of 2023, the chairman said.
Following modernisation of a berth, a capacity of 4 mtpa has already been added, while 2.50 mtpa capacity was added after completion of dredging project, Mishra said, adding, the capacity of the port reached 108.50 mtpa, which is highest amongst all major ports as on March 31, 2014.

Regarding ongoing projects, he said construction of southern oil jetty is under way to add 10 mtpa at an investment of Rs 191.09 crore. Another 10 mtpa would be added through development of deep draught coal berth on BOT basis at an estimated cost of Rs 479.01 crore.
The port has signed an MoU with GAIL (India) Ltd for setting up of a LNG terminal of a send-out capacity of 4 mtpa in phase-I and addition of 4.0 mtpa capacity in phase-II. Studies on implementation of the project are under progress.
Several projects are under bidding. They include development of deep draught iron ore berth on BOT basis at an estimated cost of Rs 591.35 crore.

Among the major future projects are construction of western dock system at an estimated cost of Rs 2,822.01 crore involving six berths with 75 mtpa capacity and construction of offshore breakwater with LNG terminals.