East coast of India comprising Haldia, Paradip and Visakhapatnam ports are currently underserved markets but are growing fast in terms of Maritime Logistics.
They are strategic locations and could act as gateway to ASEAN countries besides possessing huge mineral resources a spokesman of a leading shipping company J M Baxi said.
The capacity utilization in almost all the ports in the east coast are less than fifty per cent but JM Baxi has assisted the Paradip port authorities to ramp up capacity utilization to nearly seventy per cent in the last three years.
JMBPLL is planning expansion of Paradip port, the second largest multipurpose major port in India and the first container handling facility of Odisha.
The Company planning Initial Public Offering of Rs 2,500 crore.” targeting to bid for major port projects valued about Rs 5,000 crore.
The company will also target to bid an additional Rs 2,000 crore in brownfield projects in the port-linked land infrastructure side during the next five years,