Paradip Port Trust (PPT) has roped in Howe Engineering Products (India) as consultant for carrying out the feasibility study for its Outer Harbour project taken up under the government Sagarmala initiative. The consultant will submit the report within six months.
Paradip Port Trust (PPT) has signed a special purpose vehicle with Paradip International Cargo Terminal (PICT) for construction of a Rs 430 crore multi-purpose berth for container traffic and clean cargo handling through public-private partnership basis
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.
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.