Bhubaneswar, Aug 18 (IANS): Paradip Port has been at the forefront in successfully completing several public private partnerships (PPP) projects worth over Rs 3,000 crore recently, said Shantanu Thakur, MoS for ports, shipping and waterways.
These PPP projects have led to capacity addition of 55 MTPA at the port, said Thakur while virtually addressing the Maritime Public-Private-Partnership Conclave 2022 organised by Paradip Port Authority here on Thursday.
He hoped that as a part of Vision India 2047, Paradip port will evolve as a world class mega port with over 750 million tonnes per annum (mtpa) capacity by 2047.
The port has recently awarded the western dock project of 25 MTPA capacity at a cost of Rs 2,392 crore. The first phase of this project for 12.5 MTPA capacity will be completed in 3 years and the overall project in 5 years.
On completion, this will enable Paradip port to have facilities to handle large cape size vessels upto 18.5 meters draft, said a port official.
Thakur reiterated that Central government under the leadership of Prime Minister Narendra Modi has been laying emphasis on attracting private investments to the port sector to induct latest technology, improve management practices and for addition of capacity and enhancement of functional efficiency to India's major ports.
Speaking at the event, P.L. Haranadh, chairman of Paradip Port Authority said that aiming for a $5 trillion Indian economy in 2025, the port sector will grow to 2.3 billion tonnes per annum (BTPA) traffic by 2026.
Haranadh further said that Paradip port has been envisioned to become 750+ MTPA capacity by 2047. Around 80 MTPA capacity addition projects have been identified to be taken up in the recent 4-5 years period.
Further capacity augmentation projects are being explored, driven by port-led industrialisation and adequate port connectivity, he added.
Eastern India has a lot of growth potential in steel, polymer and plastic. Ports at Dhamra, Gopalpur, Subarnarekha and Paradip including the upcoming Mahanadi Riverine Port have huge growth potential, said Hemant Sharma, principal secretary, industries department.