Union Minister for Ports, Shipping & Waterways and AYUSH Sarbananda Sonowal on Monday approved the project of Development of Oil Jetty No.09 at Deendayal Port, Kandla to handle all types of Liquid Cargo at Kandla on BOT basis under PPP mode.
As per the Ministry of Ports, Shipping and Waterways, the estimated project cost of developing this oil Jetty is Rs 123.40 Crore where the project is to be implemented through PPP mode and the Concessionaire shall arrange the financing for the Project. While the construction period is estimated to be of 24 months the Concession Period will be for 30 years. The project will follow a revenue Share Model of Royalty Per Ton.
Sarbananda Sonowal said, “Prime Minister Narendra Modi once said that Kandla Port has the potential to give a new direction to the nation’s economy and accordingly this project will be another milestone in this journey as this Jetty and will further enhance the port capacity along with boosting the overall economic growth for its entire hinterland.”
“The proposed project is designed to increase cargo handling capacity of the port, which shall attribute to reduction in turn-around time of liquid vessels. This project will increase Deendayal Port’s income through collection of Royalty from the Concessionaire. Considering vast hinterland that is dependent on Deendayal Port for seaborne trade and currently prevailing traffic congestion at existing liquid handling facilities of Deendayal Port, capacity additions are of utmost importance at port for serving the economy of the region and in turn, shall contribute for development of the economy of the whole country in the best possible manner” he added
