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Patnaik lays foundation stone for Subarnarekha port in Odisha

Press Trust of India  |  Balasore(Odisha) 

Chief Minister Wednesday laid the foundation stone for a Rs 5,000 crore new port in district.

The all weather commercial is being developed jointly by having 51 per cent share and Chennai based (CPPL) with 49 per cent share, is scheduled to be commissioned within 36 months period.

"I am delighted to lay the foundation stone for the proposed today," Pataik said while addressing a regional Youth Conclave of Biju Yuva Bahini here at the police line field.

"Estimated project cost of the port is Rs 5,000 crore for which 692 acres of land have already been provided to the developers," an statement said.

MP said "This port will create direct and indirect employments for at least 12,000 people."

"The proposed port to be built at Chumukh area in Baliapal block under district, will have 12 berths and will handle goods of 25 to 55 million (MTPA) matric tonne per annum," said an

A port said when commissioned, Subarnarekha port draft would be 18 meters, the deepest in the coast. The other two ports at Paradip and Dhamara have draft of 14.5 meters and 17.2 meters respectively. Even it would be deeper than which is 7.5 meters, they said.

The CPPL on December 18, 2006 had signed a MoU with government to develop the proposed port. However, Tata recently acquired 51 per cent equity in the port project from CPPL.

During initial period the project faced hurdles like objection from and Forest as well as ministry of Defence. The project has now been cleared by both the ministries.

A P Padhi on Tuesday said that the has already handed over 692 acres of land to the developers and remaining 150 acres, which includes some patches of private lands, will be provided soon.

According to MD, T V Narendran, the proposed will bring significant transformation in Odishas transport scenario particularly with neighbouring states like and Jhadkhand. He said this port will be beneficial for the steel and other plants in Odisha as well as neighbouring states.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 18:05 IST