Odisha’s Paradip port achieves highest berth capacity in FY14

Bhubaneswar, 5 June-2014, Sandeep Pattnaik: Paradip Port in Odisha, the sixth largest bulk cargo port in the world, has been able to reach a berth capacity of 108.50 MMTPA, highest among all major ports as on 31 March, 2014, officials addressing a press conference here said on Wednesday.

Odisha’s Paradip port achieves highest berth capacity in FY14

Odisha's Paradip port achieves highest berth capacity in FY14

“After mechanization of Central Quay III berth by M/s Essar, a capacity of 4 MMTPA has been added. Similarly, 2.50 MMTPA of capacity was added after completion of the dredging project, thus enhancing the bulk cargo handling capacity at its berth,” Chairman PPT, Sudhansu Sekhar Mishra said.

“PPT has also taken up a host of projects to increase the capacity from the existing 108.5 MMTPA to 270.50 MMTPA per annum by 2023,” Sri Mishra said.

“The port is further embarking upon diversification in its operations to add Container Movement as a part of its activities in addition to the existing Cargo handling, and, the contract will be awarded to successful bidder within 3-4 months,” he added.

The port which witnessed a slump in its performance in the past, thanks to the almost dormant economy, has been able to clock the second highest traffic throughput of 68 million tonnes during 2013-14; recording a 20.25% growth year-on-year [Y-o-Y] basis. Last year’s traffic was around 56.55 million tonnes. It also ranked second in terms of percentage growth of cargo amongst all major ports, the official release of PPT said.

The port has also clocked impressive performance in respect of average turn-round time (port account), average berthday output and average pre-berthing waiting time; which has improved by 11%, 9% and 6% respectively over the corresponding figures of the previous fiscal year. Interestingly, the performance has also surpassed the target set by the Ministry of Shipping of 11%, 9% and 1%, the release said.

PPT has also taken strides in improving its financial parameters with a Profit-after-tax [PAT] of Rs 233 crores (Crs) in FY 2013-14, a year-on-year [Y-o-Y] growth of 24% over the last fiscal year (2012-13). The port has achieved total revenue of Rs 1068 Crs, registering a 34% growth from last year. Operating revenue remained at Rs 915 Crs and operating surplus at Rs 365 Crs (50% growth Y-o-Y).

The unique initiatives that PPT has undertaken in FY 2013-14 was signing of Memorandum of Understanding [MoU] with GAIL (India) Ltd for setting up of a LNG terminal of a send-out-capacity of 4 MMTPA (4.8 MMTPA in peak conditions) in phase-I and addition of 4 MMTPA capacity in phase-II. Studies on implementation of the project are under progress, according to the release.

Among other on-going projects at PPT include; construction of Southern Oil Jetty [of capacity 10 MMTPA] involving an outlay of Rs 191.09 Crs, development of deep draught iron ore berth on build-operate-transfer (BOT) basis [of capacity 10 MTPA] involving cost of Rs 479.01 Cr, the PPT release said.

Upcoming projects of the PPT include; mechanization of CQ-I and CQ-II [capacity 20 MMTPA], construction of offshore breakwater with LNG terminals, construction of western dock system [comprising 6 berths of capacity 75 MTPA] at an estimated cost of Rs 2822.01 Cr.

(Input Source: Odisha Sun Times)

Posted by on June 5, 2014. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.