Paradip Port Trust (PPT) is awaiting a positive response on its request to waive license norms for storing imported coal at its warehouse.The port is mandated to secure a storage and a transport license for all mineral transactions under the Odisha Mineral (Prevention of Theft, Smuggling and Illegal mining and Regulation of Possession, Storage and Transportation) Rules, 2007. The norm is intended to check unauthorised use of the state’s natural resources.
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.
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,
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.
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.
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.