Odisha forms JV to take up Shamuka tourism project

The Odisha government today decided to implement the Shamuka beach project near Puri on fast track basis.
The state has decided to form a joint venture company namely, Shamuka Tourism Development Corporation Ltd (STDCL) for implementation of Shamuka project and development of other tourism projects around Puri town and peripheral tourist locations like Chilka, Satapada and Raghurajpur.
Both OTDC (Odisha Tourism Development Corporation) and IDCO (Industrial Infrastructure Development Corporation) will have an equal equity participation in STDCL.
Initially both OTDC and IDCO will invest Rs 5 crore each equity capital in the proposed JV company.
The registered office of the company will be at Puri for close monitoring of the project.

OTDC has been asked to take necessary steps to finalise Memorandum and Article of Association and register STDCL with Registrar of Companies at the earliest.
About 982 acres of land has been acquired for the Shamuka project in the Mauza Sipasarubali near Puri city. The approach road up to the site and power station for the project are already in place.