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Paradip Port Trust to invest Rs10,000 cr in development

Paradip Port Trust to invest Rs10,000 cr in development

NEW YORK: Paradip Port Trust (PPT) plans to invest around Rs10,000 crore to modernise and develop new facilities in order to enhance its capacity to 320 million tonnes from 170 million tonnes, according to a company release.

MT Krishna Babu, Chairman, Paradip Port Trust, said that the investment would also include adding 150 million tonnes capacity at the outer harbour. Investment in dredging is required to increase the draught for movement of large vessels of size between 1.25 lakh DWT and three lakh DWT.

PPT handled 71.01 million tonnes in 2014-15 and for 2015-16 it is targeting 75 million tonnes.