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| Aditya Birla group inks pact for Rs 1500cr port in Orissa |
| BS Reporter / Kolkata/ Bhubaneswar Oct 23, 2009, 00:31 IST |
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The Orissa government today signed a memorandum of understanding (MoU) with the Aditya Birla Group (ABG) for the setting up of a Rs 1500 crore captive port at Chudamani in Bhadrakh district.
The commerce and transport secretary P K Jena and K Muralidharan, chief executive officer (CEO), ABG, signed the papers in the presence of the chief minister, Naveen Patnaik. The port project will be developed in phases with the total investment projected at Rs 1500 crore. The company will operate the port on Build-Own-Operate (BOO) basis. The captive port will cater to the requirement of the group company and will have a 3 million tonne cargo handling capacity initially, which will increase subsequently to 10 million tonne when fully commissioned.
A consortium of Aditya Birla Group companies will develop the port which will handle captive cargo like cement, aluminium iron ore, thermal coal, limestones, gypsum, clinker and copper on behalf of different group companies. The port will have two berths and will be connected by a rail corridor from Markona station. The project is slated to be completed in four years.
Speaking on the occasion, the chief minister said, the port promoters should encourage container movement which will support the initiatives of the state government to increase value addition through downstream and ancillary activities. The project is expected to generate Rs 20 crore revenue for the state government annually.
Patnaik hoped the promoters would work with the district administration and Idco to plan and develop a port-based industrial township. This will help in maximum multiplier effect for a balanced regional and social growth.
Commerce and Transport minister Sanjeev Sahoo said, the captive port project will be able to fulfill the aspirations of the people of Bhadrakh district. He hoped that the construction work of the project will be completed within schedule. Ravi Kastia, executive president, ABG said, Chudamani port project will act as catalyst in deepening co-operation and exploring new developmental activities by ABG.
“We are confident that ABG’s experience in putting up as many as six port facilities in the western coast, backed by unstinting support of the Orissa government, will help us establish this much required port in Orissa”, he said.
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