Adani Ports and Special Economic Zone Ltd. (APSEZ) has emerged as the highest bidder for two dry bulk berths at Paradip port in Odisha and received the Letter of Award for their development and operation, the company said on Wednesday.
The 30-year concession will add 18 million metric tonnes (MMT) of mechanised dry bulk capacity to APSEZ's portfolio, taking its total cargo-handling capacity to 671 MMT. The project will be developed under the public-private partnership model.
APSEZ will develop and operate the CQ-I and CQ-II berths with mechanised cargo-handling systems, deep-draft berths and storage infrastructure, according to the company.
“The Paradip concession will strengthen APSEZ's presence on the East Coast and expand our access to one of India's most important industrial and mineral-rich hinterlands,” Ashwani Gupta, whole-time director and CEO of APSEZ, said in the release.
“With Paradip, APSEZ's network grows to 16 ports and terminals across India's 11,000-km coastline, strengthening our ability to deliver integrated port, logistics and marine solutions through the country's most comprehensive transport infrastructure platform,” Gupta said.
Paradip is India's second-largest major port and serves as a bulk cargo gateway on the eastern seaboard. Its location in a mineral-rich hinterland and proximity to major steel plants will allow the terminal to handle coal, limestone and other dry bulk commodities, APSEZ said.
The addition will also expand APSEZ's access to industrial and manufacturing clusters across eastern and central India. The company said the capacity addition will address high utilisation across East Coast ports amid growing cargo demand.
APSEZ currently has 653 MMT of cargo-handling capacity. Its network includes ports and terminals across India's west, south and east coasts, along with international ports and integrated logistics operations. The company is targeting cargo throughput of 1 billion tonnes by 2030.
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