Marking the Modi government’s nine-year tenure, Paradip Port Authority Chairman PL Haranadh highlighted the Paradip Port’s growth saga when speaking to media on Wednesday.
In March 2015, Prime Minister Narendra Modi announced the Sagarmala program to achieve the overall goal of promoting port-led economic development. Paradip port has implemented several BOT-based capacity expansion projects in the past 9 years with a total investment of Rs.3,260 crore, Haranadh said.
This includes clean cargo and container berths with a capacity of 5 MMTPA at a cost of Rs 430bn coal exports and development of a new coal import berth of 10 MMTPA at Rs 650 crore.
The 82km Haridaspur-Paradip railway line, linking the port of Paradip to the rich hinterland of iron ore mining in the Keonjhar areas, has been completed at a cost of 3,200 crore rupees. The railway line has shortened the distance from Paradip to the Kalinganagar cluster of steel mills and iron ore mines.
By capitalizing on the industrialization driven by the port, Paradip Port has successfully attracted Rs. 8,754 crore worth of investment for the development of 769 acres of Portland. The strategic initiative will facilitate the construction of industrial facilities with a total capacity of 50.6 million tons per year (mtpa) and create employment opportunities for over 3,700 people.
Paradip Port has planned 99 initiatives with an investment of Rs. 16,743 crore under Maritime India Vision 2023, of which around 42 initiatives have been completed.