In order to form a national grid connecting all ports, the government has decided to form a committee that will assess the development potential of around 150 non-major ports in the country and will subsequently link them with major ports. This interlinking will aid India’s growth in terms of its export- import (EXIM) cargo.
The Smart Industrial Port City developed within the premises of the Paradip Port Trust (PPT) will house a string of projects. PPT has initiated work on projects valued at Rs 35.44 bn on the city spread over 700 acre.
Traction in Inland Waterway projects will open up several business opportunities for the port sector players As per an ICRA Report on the Indian Ports Sector, Traction in Inland Waterway projects will open up several business opportunities for the port sector players; Iron ore and POL support overall volumes as coal volume growth continues to plummet.
Paradip Port Trust is facing competition from private sector port giant Adani Ports in Odisha. Adani Ports recent Rs 5,500-crore acquisition of Dhamra Port near Paradip Port in Odisha is raising competition in the region.
India´s major sea ports handled 95.87 mn tonne of cargo during April and May 2014 as apposed to 91.48 mn tonne handled during the corresponding period previous year, an increase of 4.8 per cent. Of the 13 major ports,
PPT has already signed a memorandum of understanding with gas transportation utility, GAIL to build a floating storage and regasification unit at Paradip. GAIL has committed to invest Rs 31 bn to build the first phase of the terminal with an export capacity of about 5 mn tonne of LNG anually by 2017.