The Paradip Port Trust (PPT) on Saturday signed a memorandum of understanding (MoU) with the Gas Authority of India limited (GAIl) for construction of an liquefied natural gas (lNG) terminal complete with floating storage and re-gasification facilities at the Paradip Port at a cost of Rs 3,108 crore. The agreement was signed in the presence of Union Shipping Minister GK Vasan.
The project would be completed by 2017. The PPT would invest Rs 650 crore in breakwater and dredging and the balance Rs 2,458 crore would be invested by the GAIl. The GAIl proposes to set up the project with a send-out capacity of four million tonnes per annum (4.8 MMTPA in peak conditions) in the first phase with a storage capacity of 170,000 cubic meters. Considering the long-term potential of the market along the east coast, the second phase of the project would also have an additional capacity of 4 MMTPA (peak - 4.8 MMTPA), which would make the overall terminal capacity as 8 - 10 MMTPA.
Vasan said completion of the project would put Odisha on the world lNG map heralding a new era in the State’s industrial development, employment generation and economic upliftment. He also urged other PSUs and private organisations to come forward to develop lNG infrastructures in major ports which have adequate facilities and huge potential to serve them all in an efficient and effective way.
The Minister informed that as a part of capacity augmentation programme of the Paradip Port, it is proposed to construct an offshore breakwater to improve navigability of cape size vessels in the approach and entrance channels and simultaneously add to the port capacity by construction of an lNG re-gasification terminal. The GAIl having the authorisation of laying a Jagdishpur - Halida and Surat - Paradip lNG pipeline has planned to set up the Floating Storage and Regasification Unit (FSRU) in the Paradip Port.
He further said the Maritime Agenda 2020, a perspective plan prepared by the Shipping Ministry for this decade, aims to create a port capacity of around 3,200 MT by attracting investments to the tune of Rs 2,87,000 crore to handle the expected traffic of about 2500 MT by 2020 and bring the ports on a par with the best international ports in terms of performance and capacity.
PPT Chairman Sudhanshu Sekhara Mishra said the project would create plenty of employment opportunities. Union Shipping secretary Dr Vishwapati Trivedi hoped that the port capacity would double to 1.2 billion tonnes by the end of the 12th Plan. The MoU was signed between PPT Chairman Mishra and GAIl Executive Director Sanjeev Dutta.
The function was also attended by lok Sabha member Bibhu Prasad Tarai, Shipping Secretary Dr Vishwapati Trivedi, Joint Secretary (Ports) N Muruganandam, Joint Secretary (S&PRl) MC Jauhari and DA (Ports) B Poyamozhi.