Paradip Clean Cargo berth

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The project envisages the construction and operation of a cargo berth which is to handle clean cargo including containers at Paradip Port in Odisha, India. The planned capacity of the berth is 5.0 MMTPA (million metric tonnes per annum). Paradip International Cargo Terminal Private Limited ("Project company") is undertaking the project under a Build Operate and Transfer contract, awarded by Paradip Port Trust in March 2015. The concession was granted following a competitive bidding process, in which 11 bidders pre-qualified but only 3 of them participated in the final bidding. The criteria of the competition was the highest revenue share with the government - reported at 11.04%. The concessionaire (Paradip International Cargo Terminal) is promoted by United Liner Agencies (part of the JM Baxi Group) and will operate the terminal for a duration of 30 years (360 months). The project construction was underway as of mid-July 2016. It was reported that it would take 3 years to complete the terminal, hence being operational in 2019. Project is estimated to cost Rs 430.68 crore ($64.9 million) of which Rs 74.24 crore ($11.2 million) will be provided by PPT for dredging (capital subsidy). Sponsor will be accountable for securing debt and equity (totaling Rs 356.54 or $53.7 million). Financial closure was reported by infrastructureindia.gov.in to have reached on April 4, 2016. However, no further financing details were available as per July 3, 2017. https://infrastructureindia.gov.in/view-project?p_p_id=viewproject_WAR_Projectportlet&p_p_lifecycle=0&p_p_col_id=column-1&p_p_col_count=1&_viewproject_WAR_Projectportlet_jspPage=%2Fhtml%2Fviewproject%2Fview.jsp&_viewproject_WAR_Projectportlet_ppp=Government+Infrastructure+Projects+%28PPP%29&_viewproject_WAR_Projectportlet_projectId=12591&_viewproject_WAR_Projectportlet_currURL=%2Fweb%2Fguest%2Fproject-list http://bizodisha.com/2015/03/ppt-signs-agreement-for-construction-of-clean-cargo-berth/ Financing details yet to be released.