PPT floats scheme to boost business

Paradip: The Paradip Port Trust (PPT) has come up with a new scheme to experiment berth reservation for import of coking coal and limestone for six months from October, 2009 to March, 2010.
The scheme is only for steel plants, which are capable of importing 5 lakh tonnes of coal and limestone within six months.
The importer is required to furnish an irrevocable and encashable at call, Bank Guarantee to the Port.
The importer is to deposit charges in advance with the Port. Two berths are kept in reserve for Tata Steel and Visa Steel.
Surprisingly, the scheme though passed in the PPT board on October 5 and came into force from October 10 till March 31, 2010, but importers at Paradip were intimated of this scheme on October 15.
Besides Tata and Visa, other importers including Jindal Steel Power and the public sector SAIL importing these two categories of cargo for their steel plants are yet to take advantage of this new scheme.
PPT had in the past, introduced such schemes to promote export of iron ore.
After the sinking of Black Rose, iron ore exports has toned down, forcing PPT to encourage import of coal by introducing the present new scheme.