The concession agreement for the construction of a deep drought iron ore terminal at Paradip port was signed between Blue Water Iron Ore Terminal Pvt Ltd and Paradip Port Trust (PPT) at New Delhi today. Blue Water Iron Ore Terminal Pvt Ltd is a special purpose vehicle (SPV) formed by a consortium comprising of MMTC, Noble group and Gammon Infrastructure Projects Ltd. The deep drought iron ore berth with back up facilities will be developed in public-private-partnership (PPP) mode on a Build-Own-Transfer (BOT) basis. The project entails an investment of about Rs 505 crore.

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One coal berth with back up facilities is also proposed to be constructed in PPP mode at an investment of Rs 387crore.

The proposed state of art iron ore terminal will be designed to handle cape size vessels up to 1,25,000 DWT in the first phase. This will increase to 1,85,000 DWT size after completion of the second phase.

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