Paradip (Odisha): The Paradip Port Trust (PPT) has signed a concession agreement with Paradip International Cargo Terminal (PICT) for the construction of a INR4.30bn ($70m), 5m tonne capacity multipurpose berth at the port for container traffic and clean cargo handling.
A special purpose vehicle, on the public-private partnership (PPP) model, has been set up to execute the project. PICT became the operator of the proposed terminal after being selected through a competitive bidding process.
Under the concession agreement, the concessionaire would be responsible for the financing, designing, construction and commissioning of the project, along with operation, management and maintenance.
The berth would be equipped with modern equipment like mobile harbour cranes and rubber-tyred gantry cranes to handle non-hazardous and dust-free cargo including iron and steel products, aluminium ingots, pig iron, fertiliser, foodgrain, sugar (both raw and processed) and containers.