Bhubaneswar: A Smart Industrial Port City project to be developed within the premises of the Paradip Port in Odisha has taken off, an official said here.
Betting big on the ongoing capacity-building projects and upcoming industrial parks along with multi-modal logistics parks, the Paradip Port remains bullish on achieving significant growth.
However, the project to be developed within the premises of the Paradip Port Trust (PPT) will house a string of projects across sectors. PPT has initiated work on projects valued at Rs 3,544 crore on the self-contained city spread over 700 acres of land.
The port has also taken up a host of projects to increase its capacity from the existing 277 million tonnes per annum (MTPA) to 325 MTPA by 2025, said the official.
The various projects proposed include a multi-modal logistics park (MMLP) committed by Container Corp of India (Concor), a four MTPA pelletisation unit by Thriveni Earthmovers Ltd, a wood park and a dedicated food park for edible oils.
"We are happy to note this development as Paradip Port is a critical enabler of Odisha's industrialisation. There is tremendous untapped potential for port-led industrialization in Odisha. With ongoing capacity and infrastructure expansion projects underway, Paradip will soon become one of the most sought after industrial zones in the country," said Industries Secretary Sanjeev Chopra.
On the MMLP, Concor has pledged an investment of Rs 200 crore. Land has already been allotted to Concor which is in the process of carrying out a detailed engineering study, said Chopra.
The MMLP would comprise warehousing zones, container terminals and bulk cargo terminals. The park envisages a suite of facilities like inland container depots, container freight stations, parking, mechanised handling and inter-modal transfers all at a single location.
This will be spread over one million square foot, the logistics park promises to generate employment in the realms of warehouse management and logistics operations.
Thriveni Earthmovers is setting up a four MTPA pellet plant within the Smart Industrial Port City on land area measuring 177 acres. The investment on the plant is estimated at Rs 2,500 crore.
For the edible oil park, PPT expects to float Expression of Interest (EoI) shortly. This park is tipped to draw investments of the order of Rs 400 crore.