Paradip Port handles record traffic despite downturnApril 25th, 2009 - 4:13 pm ICT by IANS
Bhubaneswar, April 25 (IANS) Despite the global economic slowdown, the Paradip Port in Orissa has handled an all-time record traffic of 46.41 million tonnes in 2008-09, posting a growth of 9.36 percent over the year before, a top official said here.
“The port has handled an all-time record traffic of 46.41 million tonnes during 2008-09 despite the global meltdown, up from the previous record of 42.44 million tonnes in 2007-08,” Paradip Port Trust chairman K. Raghuramaiah told reporters.
The Paradip port in Jagatsinghpur district, 120 km from here, is the first major port in the eastern coast commissioned after the independence. The port was opened to traffic March 12, 1966.
“In the traffic growth rate in 2008-09, we have achieved third place among all major ports in the country,” said Raghuramaiah, adding: “The cargo traffic has doubled in the last six years.”
The chairman further expected “substantial improvement” in the financial performance of the port last fiscal.
“The port has made an operating income of Rs.700.21 crore in 2008-09 as against Rs.639.98 crore in 2007-08,” Raghuramaiah said.
The operating expenditure of the port in the current fiscal is estimated to be Rs.337.72 crore as against Rs.315.79 crore last year.
On the expansion works, he said: “We are undertaking the work of deepening the channel at a cost of Rs.253.36 crore. The contract has been awarded to Dredging Corp of India, which has commenced the work in June 2008.”
On completion of the project, the depth of the entrance channel and approach channel will be increased from 13 to 17 metres and 15 to 18.7 metres respectively.
“The likely date of completion of the project is March 2010,” Raghuramaiah said.
-Indo-Asian News Service
Tags: approach channel, asian news, cargo traffic, crore, downturn, financial performance, global economic slowdown, global meltdown, indo, jd, jg, news service, operating income, orissa, port trust, record traffic, substantial improvement, time record, tonnes, traffic growth