Cabinet approves revised cost estimates for Paradip Port project

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New Delhi, Nov 30 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for revised cost estimates regarding the implementation of ''Deepening of Channel at Paradip Port'' at an estimated cost of Rs 253.359 crore.

Accordingly, the implementation of the project, Paradip Port would be able to handle ships of 1,25,000 Dead Weight Tonnage (DWT) from the existing capacity of 65,000 DWT, thus handling large volume of traffic.

The project would help in decongestion of the Port due to high capacity vessels, reducing sea freight for bulk cargo in general and iron ore and coal in particular, and boosting the industrial climate in hinterland of the port leading to creation of job opportunities.

The project is expected to be completed within 60 weeks.

UNI

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