Paradip Port Trust signs agreement with PICT

Paradip: Paradip Port Trust (PPT) today signed a concession agreement with Paradip International Cargo Terminal (PICT) for construction of a Rs 430 crore berth for container traffic and clean cargo handling.

A special purpose vehicle was set up to execute the project, a PPT official said here adding a multipurpose berth would be set up through public private partnership basis.

PICT became the operator of this proposed terminal after being selected through a competitive bidding process, a release by PPT said.

The concessionaire would be responsible for financing, designing, construction, commissioning of the project along with operation, management and maintenance under the concession agreement, the release said.

On completion of construction, five million tonnes of cargo per annum would be added to the capacity of the port.

The berth would be equipped with modern equipment like Mobile Harbour Cranes and Rubber Tyre Gantry Cranes to handle non-hazardous and dust-free cargo including Iron and Steel products, Aluminium Ingots, pig iron, fertilisers, Food Grains, Sugar (both raw and processed) and Containers.