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October 12, 2008


Paradip Port 2007/08 income up by 4.7% YoY

Paradip Port has posted a high operating income of INR 670.47 crore during 2007/08 up by 4.7% YoY as against INR 640.37 crore in 2006/07. It reported a growth rate of 10.18% YoY by handling an all time record traffic of 42.44 million tonnes, surpassing the previous record of 38.52 million tonne handled during 2006.

Mr K Raghuramaiah chairman of Paradip Port said that "We have undertaken various expansion and modernization programs to make the port more competitive."

Mr Raghuramaiah, pointing to the huge demand for import of coking coal by the steel industries and export of iron ore by the mining companies, said that the port is proposing to construct one berth each for handling of iron ore and coal. The berths will draw investment of INR 504.77 crore and INR 387.83 crore. He added that, in order to enable the port to receive bigger vessels, the channel is being deepened to 17.1 meter. Dredging Corp of India has been entrusted for deepening of the entrance channel at a cost of INR 253.36 crore.

The port also handled all time highest number of 1636 vessels during 2007-08 as against 1452 vessels handled in 2006-07. This apart an all time record quantity of 30.80 million tonne of rail borne traffic was handled by the port railway during 2007-08 surpassing the previous record of 26.54 million tonne handled in 2006-07.

Similarly, a record quantity of 214,838 tonne of cargo was handled in a day on February 22nd 2008, surpassing the previous record of 212,912 tonne handled on June 19th 2006. It also handled a record quantity of 4.2 million tonnes of cargo, 25.59 million tonnes of export cargo and 16.85 million tonnes of import cargo.

Mr Raghuramaiah said that there had been a substantial improvement in the financial performance of the port during the year with an operating income of INR 670.47 during 2007-08 as against INR 640.37 in the previous year.

He said that it has also been proposed to construct a berth for handling of iron ore with back up facilities to meet the growing demand at the estimated cost of INR 504.77 crore. He added that, in view of setting up of several steel plants in Orissa, it has been proposed to construct a berth for handling coal with back up facilities at an investment of INR 387.83 crore.

Similarly, there is a proposal to develop a southern dock system having three berths with provision to handle containers and other products involving an outlay of about INR 530 crore. Connectivity and 4 laning of the road from Chandikhole to Paradip, involving an outlay of INR 442 crore, would be completed by June 2008.