Balasore: Foundation stone for Subarnarekha Port laid by CM Naveen Patnaik today. Total project cost: ₹5000-crore; Tata Steel Ltd to develop port with Odisha Govt.
Port to handle initially 25000MT cargo annually; Port to cater to Odisha, West Bengal & Jharkhand (Jamshedpur steel plant). The proposed port is expected to be built in 4-5 years.The Subarnarekha port project is being developed by Chennai-based Creative Port Private Ltd (CPPL) which will own 49 percent stake and Tata Steel with 51 percent stake.
Subarnarekha Port will revive the historical port that existed in 17th century in Baleswar. It will be one of the biggest port to be developed in eastern coast of India and third port to be developed by state after Gopalpur and Dhamra, transforming Odisha into a major maritime state.
CM Patnaik launched a slew of projects during his visit to the district on Wednesday. Patnaik inaugurated as many as 33 projects worth Rs 311 crores in the district, while laid the foundation stones 39 projects worth Rs 691 crores. Patnaik laid the foundation stone of the Chandipur port for the fishing. The 50-crore worth port is expected to be beneficial for around 35,000 fisherman families.