Ahmedabad, Sept. 9 -- Adani Ports and Special Economic Zone (APSEZ) has emerged as the highest bidder for developing and operating two dry bulk berths at Paradip Port in Odisha and has received the Letter of Award (LoA) for the project.
The 30-year concession, to be developed under the Public-Private Partnership (PPP) model, will add 18 million metric tonnes (MMT) of capacity to APSEZ's portfolio, taking its total capacity to 671 MMT per annum.
The company said the addition will support its ambition of handling 1 billion tonnes of cargo by 2030.
Under the project, APSEZ will develop the CQ-I and CQ-II berths with mechanised cargo-handling systems, deep-draft facilities and large-scale storage infrastructure.
APSEZ Whole-time Director and CEO Ashwani Gupta said the Paradip concession would strengthen the company's presence on India's eastern coast and improve access to key industrial and mineral-rich hinterlands.
Paradip, India's second-largest major port, is a crucial gateway for bulk cargo and is surrounded by mineral resources and major steel manufacturing facilities.
The new terminal will enable APSEZ to handle increasing volumes of coal, limestone and other dry bulk commodities while expanding connectivity with industrial clusters in eastern and central India.
Published by HT Digital Content Services with permission from Millennium Post.