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Paradip Port Trust
Paradip Port in Odisha will be developed into a world-class modern port which will have capability to handle capesize vessels at a cost of Rs 3,004.63 crore. The project involves deepening and optimisation of inner harbour facilities including development of western dock on build, operate and transfer (BOT) basis under public-private partnership mode at the port, the Ministry of Ports, Shipping and Waterways said in a statement on Sunday. "One of those visionary initiatives is capital intensive project at Paradip Port which will transform the port into a world-class modern port which will have capability to handle capesize vessels... the estimated cost of the project is Rs 3,004.63 crore," it said. Capesize is the largest class of bulkship that can carry any type of cargo, such as iron ore and coal. Such vessels are called "capesize" as they cannot pass through the Panama Canal and have to go around the Cape of Good Hope to sail between the Pacific and Atlantic oceans. According to