The first phase of the dry bulk cargo terminal at the western dock of Paradip Port is expected to be operational in early 2025, an official said. Last year, a JSPL-led consortium won the bid to build the cargo terminal with a 25 million-tonne capacity.
A special purpose vehicle, Jindal Paradip Port Limited (JPPL), has been formed by the leading steel major Jindal Steel & Power and Jindal Port Private Ltd for the project.
JPPL will invest about Rs 3,392 crore for development of the western dock of the Paradip Port, the official said.
“The first phase of the project with a capacity of 12.5 million tonne per annum is expected to be operational in early 2025,” the company official said.
Jindal Steel & Power Ltd chairman Naveen Jindal on Thursday performed Bhoomi Puja for the construction of the 25-MT capacity dry bulk cargo terminal at the western dock of the port.
Paradip Port chairman PL Haranadh, and other senior officials of the port were present on the occasion.
The foundation stone for the development of the western dock was laid by Prime Minister Narendra Modi in October during the third edition of the Global Maritime Summit 2023 held in Mumbai.
“The new western dock will be developed as the most modern terminal and will greatly enhance the capabilities of large industries in the hinterlands of Odisha. It is expected to have a significant boost on economic activity and employment in the state and beyond,” Jindal said.