A concession agreement was signed here on Friday between the Paradip Port Trust (PPT) and the Kalinga International Coal Terminal Paradip Pvt ltd (KICTPPl), a Special Purpose Vehicle (SPV) set up by the Kakinada Seaports ltd Bothra Group, Visakhapatnam and the Ripley Group, Kolkata for development of a new coal berth of the PPT for handling coal imports in PPP mode on Build, Operate and Transfer (BOT) basis to cater to the need of imported coal by steel and thermal power plants in the PPT hinterland.
The agreement was signed by PPT Chairman Rinkesh Roy and KICTPPl Director Ajit Bothra.
The KICTPPl succeeded in a global competitive bidding process as the concessionaire for the coal import terminal quoting a revenue share of 36.53 per cent. The concessionaire shall be responsible for financing, designing, construction, commissioning of the project along with operation and maintenance.
The concession period is 30 years. The estimated project cost is Rs 655.56 crore. On completion of construction, 10 MTPA of cargo would be added to the port’s capacity. The draught of the berth would be 16 meters with a length of 370 meters which would facilitate handling of cape size vessels. The entire cargo would be handled through mechanised means and enclosed conveyors in order to operate in an environmentally-sustainable manner.
The PPT would provide supporting facilities like capital and maintenance dredging and rail connectivity to the terminal. The project is scheduled to be commissioned in three years.