Plans On To Build Port At Orissa

Larsen & Toubro Ltd (L&T) said on Tuesday it had formed a joint venture company to draw up plans to build a port in Indias eastern state of Orissa.

L&T has set up a joint venture firm called International Sea Ports in equal partnership with American Stevedoring Corporation and Precious Shipping Plc to build the port, L&T managing director Sudhakar Kulkarni told Reuters.

We are looking at the possibility of putting up a port in Orissa, this new joint venture is looking at that, Kulkarni said.

The site of the port would be at Dhamra in the eastern state, Kulkarni added.

 

This is an area where there is iron ore, its a coal belt, so there is lots of transportation of iron ore and coal from there, as well as inputs for the various steel plants located in that area coking coal and that sort of thing, he said.

But matters were still at a preliminary stage.

I think there is a good possibility for their developing a new port, but its at a preliminary stage now, Kulkarni said. The order of investment this is all being estimated today. Its very premature to talk about investment.