Odisha Chief Minister Naveen Pattanaik on Wednesday laid the foundation stone for a Rs 5,000 crore new port in Balasore district. The all weather commercial Subarnarekha Port is being developed jointly by Tata Steel having 51 percent share and Chennai based Creative Port Private Ltd (CPPL) with 49 percent share, is scheduled to be commissioned within 36 months period.
“I am delighted to lay the foundation stone for the proposed Subarnarekha port today,” Pataik said while addressing a regional Youth Conclave of Biju Yuva Bahini 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 official statement said.
Balasore MP Rabindra Jena 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 Balasore district, will have 12 berths and will handle goods of 25 to 55 million (MTPA) matric tonne per annum.
A port official said when commissioned, Subarnarekha port draft would be 18 meters, the deepest in the Odisha 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 Haladia port which is 7.5 meters.
The CPPL on December 18, 2006 had signed a MoU with Odisha government to develop the proposed port. However, Tata Steel recently acquired 51 per cent equity in the port project from CPPL. During initial period the project faced hurdles like objection from Union Ministry of Environment and Forest as well as ministry of Defence. The project has now been cleared by both the ministries.
Chief Secretary A P Padhi on Tuesday said that the state government 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 Tata Steel MD, T V Narendran, the proposed Subarnarekha port will bring significant transformation in Odishas transport scenario particularly with neighbouring states like West Bengal and Jhadkhand. He said this port will be beneficial for the steel and other plants in Odisha as well as neighbouring states.