Chief Minister Naveen Patnaik on Wednesday laid the foundation stone of the Subarnarekha port in Balasore district of Odisha.
The proposed port is being developed by Tata Steel and Creative Port Development Pvt. Ltd., which would own 51% and 49% stakes in the project respectively.
The Odisha government has already handed over 692 acres of land for the port project and the construction work would start after some more land is handed over in the near future.
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Economic growth
Speaking on the occasion, the Chief Minister said that the port is expected to be built in four years. A sum of ₹5,000 crore will be spent on the construction of the port which will generate employment for 12,000 people.
The Subarnarekha port will help speed up industrialisation in Odisha and contribute to the State’s economic growth, said Mr. Patnaik.
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The all-weather port on the Subarnarekha river mouth on the Bay of Bengal, with 12 berths, would have an initial capacity of 25 million tonnes per annum, which is to be raised to 55 MTPA in phases.
Tata Steel will use the port for its steel plant at Jamshedpur in Jharkhand, apart from other steel plants in Odisha and West Bengal.
During his visit to Balasore district, the Chief Minister inaugurated and laid foundation stones for as many as 39 projects worth ₹691 crore in the district.
Mr. Patnaik also attended the Talasari festival and addressed a large gathering of youth in Balasore. The youth conclave was organised under the banner of Biju Yuva Vahini initiative of the State Youth Welfare Board with volunteers from districts such as Balasore, Mayurbhanj, Keonjhar, Bhadrak and Jajpur.