<div>Paradip Port Trust (PPT) on Saturday signed a concession agreement with Paradip International Cargo Terminal (PICT) for construction of a Rs 430 crore berth for container traffic and clean cargo handling.</div><div> </div><div>A special purpose vehicle was set up to execute the project, a PPT official said, adding a multipurpose berth would be set up through public private partnership basis.</div><div> </div><div>PICT became the operator of this proposed terminal after being selected through a competitive bidding process, a release by PPT said.</div><div> </div><div>The concessionaire would be responsible for financing, designing, construction, commissioning of the project along with operation, management and maintenance under the concession agreement, the release said.</div><div> </div><div>On completion of construction, five million tonnes of cargo per annum would be added to the capacity of the port.</div><div> </div><div>The berth would be equipped with modern equipment like mobile harbour cranes and rubber tyre gantry cranes to handle non-hazardous and dust-free cargo, including iron and steel products, aluminium, ingots, pig iron, fertilisers, food, grains, sugar and containers.</div><div> </div><div>(PTI)</div>
