Balasore: Chief Minister Naveen Patnaik, today laid the foundation stone for Subarnarekha Port located in Balasore district of the State.
The foundation stone was laid in the presence of Tata Steel CEO & Managing Director Mr. T.V. Narendran. Also present on the occasion were Mr. Dibyendu Bose, Group Director, Investments & New Ventures, Tata Steel and Mr. Chanakya Chaudhary, Vice-President, Corporate Services, Tata Steel.
Subarnarekha Port will be developed as an all-weather, deep-draft seaport south of the mouth of Subarnarekha River.
“Subarnarekha Port will be an important port for this region. It has a high potential for the industries located in the region,” said Mr. T.V. Narendran, CEO & Managing Director, Tata Steel.
The port development is envisaged through Subarnarekha Port Private Limited (SPPL), a subsidiary of Creative Port Development Private Limited (CPDPL). Tata Steel holds 51 per cent stake in Creative Port Development Private Limited, which had executed a 34 years Concession Agreement with Government of Odisha in 2008 to develop and operate the Subarnarekha Port.