SMP Kolkata expects 14% growth in FY 23-24

KOLKATA: Syama Prasad Mookerjee Port (SMP), Kolkata (SMPK),formerlyKolkataPortTrust, is looking to achieve close to 14 per cent growth in business in 2023-24.

According to Rathendra Raman, Chairman, SMPK, a few key focus areas have been identified for growing its cargo handling capacity and transforming into a green port by setting up solar projects both in Kolkata Dock System and Haldia Dockandincreasingforestcover.

“The port is on the growth path. In 2022-23 we recorded nearly

13 per cent growth in cargo handling at 65.66 million tonnes. We had a net surplus of Rs. 304 crore, which is an improvement of 150 per cent compared to the previous years. This year we are looking to sustain this growth and also grow at close to 14percent,”Ramansaid.

With a view to reduce congestion and increase port capacity, SMPK is planning to develop extended port gate system at Balagarh at an investment of around Rs. 445 crore, out of which around Rs. 343 crore wouldbeinvestedthroughPPP.Close to Rs. 98 crore has already been allocated for basic infrastructure development, and the port plans to pursue PPP project with an investor tomanageportactivities,hesaid.The Balagarh facility is expected to be a mixed use port capable of handling 1.6mtofcoaland85,000containers.

The port is betting big on growing traffic to Nepal, Bangladesh and Northeast India through the IndoBangladesh Protocol (IBP) route. Earlier this month, it had sent an inaugural shipment carrying 20,000 bags having 1,000 metric tonnes of cement to operationalise the Sittwe PortinRakhineStateofMyanmar.