[vc_row][vc_column][vc_column_text]A Concession Agreement was signed on August 4, 2017 between Paradip Port Trust and Kalinga International Coal Terminal Paradip Pvt. Ltd (KICTPPL), a special purpose vehicle (SPV) set up by Kakinada Seaports Ltd, Bothra Group, Visakhapatnam and Ripley Group, Kolkata for developing a new berth for handling coal imports, in PPP mode on Build, Operate and Transfer (BOT) basis. The coal will be shipped in by the steel and thermal power plants in the Port’s hinterland.
The agreement was inked by Mr Rinkesh Roy, Chairman, Paradip Port Trust (PPT), and Mr Ajit Bothra, Director, KICTPPL, in the presence of senior officers from KICTPPL and the Port. KICTPPL bagged the project through a global competitive bidding process, offering a revenue share of 36.53 per cent to the Port. As the concessionaire, it will be responsible for financing, designing, construction and commissioning of the project along with operation and maintenance, under the concession agreement. The concession period is 30 years, with the estimated cost of the project being Rs 655.56 crore.
On completion of construction, 10 mtpa of cargo shall be added to the capacity of the Port. The draught of the proposed berth will be 16 metres, with length of 370 m, which will facilitate the handling of Capesize vessels. The berth will be equipped with modern and efficient machinery like rail-mounted ship unloaders, stackers and reclaimers, and wagon loading system to handle the projected traffic. The entire coal cargo will be handled through mechanised means and enclosed conveyors in order to operate in an environmentally sustainable manner.
PPT will provide supporting facilities like capital and maintenance dredging and rail connectivity to the terminal. The project will be developed on the northern side of the dock and is scheduled to be commissioned within 3 years.[/vc_column_text][/vc_column][/vc_row]
