The estimated cost of the project is Rs.1437.76 crore of which Rs. 1412.76 crore will be spent by the concessionaire. The remaining Rs.25 crore will be spent by the Paradip Port Trust on dredging.
The project envisages mechanization of EQ 1, 2 and 3 Berths to increase their capacity from the existing 7.85 million tonnes to 30 million tonnes. The project is scheduled to be completed within three years from the date of award of concession. After completion of the project, the total thermal coal export handling capacity at Paradip Port will reach 50 million tonnes. This will help the port to meet the growing demand of thermal coal over the next three to four years.
This mechanisation project will go a long way in improving the operational efficiency in Paradip Port and thereby reduce transaction cost for thermal power plants dependent on coal supply through Paradip Port. The project will also create additional employment opportunities.