The Business Bytes
PARADIP, AUGUST 1, 2024 (TBB BUREAU): The Paradip Port Authority (PPA) has reached a historic milestone by surpassing 50 million metric tonnes (MMT) of cargo throughput in the current financial year. Building on an exceptional performance in the previous fiscal year, PPA has started FY24-25 with remarkable success, achieving a total cargo volume of 50.16 MMT within the first four months. This achievement is the fastest in PPA’s history, accomplished eight days ahead of the previous fiscal year, and represents a growth rate of 5.16% compared to the corresponding period.
Key contributors to this milestone include coal cargo, which accounted for 23.11 MMT and showed a growth of 6.72% over the previous year. Iron ore and pellets also contributed significantly, reaching 9 MMT with a substantial growth rate of 20.74%. Additionally, container cargo experienced remarkable growth, increasing by 85.07% over the same period.
PPA Chairman PL Haranadh expressed his gratitude to Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, for his leadership and guidance. Haranadh commended the dedication and meticulous planning of Team PPA, stating, “The team’s relentless efforts have made achieving our enhanced targets seem effortless. With continued dedication, I am confident that PPA will surpass the 150 MMT cargo throughput mark in the current fiscal year.”
This significant accomplishment underscores PPA’s commitment to excellence and its strategic importance in the maritime sector. As PPA continues to set new benchmarks, it remains a pivotal hub for trade and commerce, driving economic growth and development.
