India’s Cabinet Committee on Economic Affairs has approved the project Deepening and Optimization of Inner Harbour Facilities including Development of Western Dock on Build, Operate and Transfer basis under Public Private Partnership mode to handle cape size vessels at Paradip Port at an estimated cost of INR 3,004.63 Crore. This includes development of the new Western Dock on BOT basis and capital dredging by the selected Concessionaire at a cost of INR 2,040 Crore and INR 352.13 Crore respectively and Paradip Port's investment will be to the tune of INR 612.50 Crore towards providing Common Supporting Project Infrastructure.
The proposed project envisages Construction of Western Dock Basin with facilities to handle cape size vessels by the selected BOT Concessionaire with an ultimate capacity of 25 million tonnes per annum in two phases of 12.50 million tonnes per annum each. The Concession period shall be 30 years. However, the Port will provide the Common Supporting Project Infrastructure.
On commissioning of the project, it shall cater to the requirement of coal & limestone imports besides export of granulated slag & finished steel products considering the large number of steel plants established in the hinterland of Paradip Port.