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Project to be fulfilled in 36 months

Project to be fulfilled in 36 months
The government approved projects for construction of deep draught iron-ore and coal berths at Paradip Port on build-operate-transfer (BOT) basis.

The government approved projects for construction of deep draught iron-ore and coal berths at Paradip Port on build-operate-transfer (BOT) basis.

The government approved projects for construction of deep draught iron-ore and coal berths at Paradip Port on build-operate-transfer (BOT) basis with a total estimated cost of Rs 1,070.36 crore. The Cabinet Committee on Economic Affairs (CCEA) gave its nod to the project for coal berth at the Port with an estimated cost of Rs 479.10 crore, out of which Rs 408.90 crore would be borne by the BOT operator while the rest of Rs 70.80 crore will be contributed by the Paradip Port Trust.

The CCEA also approved the project for the iron-ore berth to be constructed at the Port with an estimated cost of Rs 591.35 crore out of which Rs 506.25 crore will be invested by the the operator while the rest of the Rs 85.10 crore would be arranged by the port trust.

"The project (coal berth) is to be implemented within a period of 36 months from the date of award of the concession," science and technology minister Kapil Sibal said.

The project for the iron-ore berth is to be completed within a similar time period from the date of the award of the concession.

The construction of the coal and iron-ore berths will help in de-congestion of the port due to handling of coal in higher capacity vessels up to 1,25,000 DWT. It will also reduce sea freight, the minister said.

www.TurkishMaritime.com.tr

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