Bhubaneswar18/8/22:: Public-private partnerships increase access to capital, encourage innovation and help share risks, said Shri Shantanu Thakur, Hon’ble MoS, MoPSW in his inaugural address virturally at the Maritime Public-Private-Partnership Conclave 2022 organised by Paradip Port Authority here in Bhubaneswar.
They are well designed and implemented in a transparent regulatory environment bringing in greater efficiencies and sustainability to the provision of public services. The principal objective for encouraging PPP in the Port sector is to fulfill the requirement of creating infrastructure and operating them smoothly through expeditious mobilization of private sector resources to improve the quality and efficiency of services to the stakeholders.
He hoped that as a part of Vision India 2047, Paradip Port will evolve as a world-class mega port with over 750 Million Tonnes Per Annum capacity by 2047. Paradip Port has been at the forefront in successfully completing several PPP projects worth over Rs.3000 crores recently, which led to capacity addition of 55 MTPA at Paradip. I
t is also noteworthy that the Port has recently awarded the Western Dock project of 25 MTPA capacity at a cost of Rs.2392 Crores. The 1st Phase of this project for 12.5 MTPA capacity will be completed in 3 years and the overall project in 5 years’ time. On completion, this will enable Paradip Port to have facilities to handle large Cape-size vessels up to 18.5 meters draft.
He reiterated that Govt. of India under the visionary leadership of our Hon’ble Prime Minister Shri Narendra Modi Ji has been laying emphasis on attracting private investments to the Port sector to induct latest technology, improve management practices and for addition of capacity & enhancement functional efficiency to India’s Major Ports.
In his introductory remarks, Shri P.L Haranadh, Chairman Paradip Port Authority said that aiming for a USD 5 trillion Indian economy in 2025, the port sector will grow to 2.3 Billion tonnes per annum (BTPA) traffic by 2026. Similarly, India’s manufacturing and agriculture push are likely to propel growth of containerisation traffic up to 50 MTEU by 2026. Shri Haranadh addressed that there is a need to bridge the port capacity gap in next five years to capture the traffic growth. The Govt of India’s initiatives such as Sagarmala Programme, Maritime India Vision 2030, Major Port Authority Act 2021, National Monetisation Pipeline, Gati Shakti and Amrit Kal Vision 2047 have been pivotal in driving PPP investments to the tune of Rs 10 Lakh Crores in Indian port sector.
Shri Haranadh further said that Paradip port has been envisioned to become 750+ MTPA capacity by 2047. Around 80 MTPA capacity addition projects have been identified to be taken up in recent 4-5 years period. Further Capacity augmentation projects are being explored driven by Port led Industrialisation and adequate port connectivity.