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| Adani may invest Rs 10,000 cr on a 100 mt port in Orissa |
| BS Reporter / Kolkata/ Bhubaneswar Feb 19, 2010, 00:05 IST |
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Ahmedabad-based Adani Group, a diversified business conglomerate, has evinced interest in setting up a 100 million tonne per annum port in Orissa at an investment of Rs 10,000 crore.
The port project called Adani Kalinga Port is to be developed in two phases at a distance of three km from Jatadhari Muhan, the proposed site of Posco India's captive port in the state's Jagatsinghpur district.
However, the group's port project will not affect the captive port planned by Posco India.
Official sources said the Group intends to invest Rs 5000 crore in the first phase and an equivalent amount in the second phase.
The Adani Group today gave a presentation to the state chief minister Naveen Patnaik on its investment plans for Orissa. Rajesh Adani, managing director, Adani Group and Rajeev Sinha, director of the Adani Group promoted Mundra Port called on the state chief minister at the state secretariat.
The proposed port which would have 12 berths in all will handle coal, iron ore, liquid and containerized cargo.
The Adani Group also plans to develop an industrial zone in the port area. Plans are also afoot to develop a road and railway network within the port.
The Adani Group is banking on its own expertise to develop its proposed port project in the state.
Besides the port, the Group plans to invest in other sectors in the state like power plant, edible oils and mining.
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