Paradip Port Authority (PPA) is poised for a remarkable expansion, aiming to join the league of ports handling over 300 million MT within the next three years. With its current capacity at 289 million MT, Paradip Port is eyeing a significant milestone with the commissioning of the Western Dock project, which is progressing swiftly under the management of M/s JPPL, a PPP operator.
According to P L Haranadh, Chairman, PPA, meticulous planning, diligent workforce, and unwavering support from stakeholders and the Ministry of Ports, Shipping, and Waterways have propelled Paradip Port’s performance to new heights. Haranadh highlighted their recent achievement of surpassing Deendayal Port to become India’s leading major port in cargo handling, with a record-breaking 145.38 million MT handled in FY 2023-24.
Financially, Paradip Port has also exhibited robust growth, with operating revenue exceeding Rs 2,300 crore, marking a 14.30 per cent increase compared to the previous fiscal year. Operating surplus, net surplus before tax, and net surplus after tax have all seen significant growth, indicating the port’s strong financial performance. The operating ratio has also improved to 36 per cent, showcasing efficient operational management.
Strategically located at the convergence of the Mahanadi River and the Bay of Bengal in Odisha, Paradip Port has emerged as a pivotal hub for coastal shipping, handling a record-breaking 59.19 million MT in the past financial year. Notably, thermal coal coastal shipping has witnessed a substantial increase, further solidifying Paradip Port’s position in coastal shipping within the country.
Haranadh attributed the port’s increased performance to various system improvement measures, including enhancements in the mechanised coal handling plant operation to reduce idle time, and the simultaneous handling of cape and panamax vessels at the coal handling berth. With plans for further expansion and enhancement, Paradip Port is set to redefine maritime logistics in the region and contribute significantly to India’s port sector growth.