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Berthing Facility Draws Private Investments In Odisha’s Subarnarekha Port

The first phase of Subarnarekha Port, a joint venture between Tata Steel and Creative Port Development located in Odisha, is complete. This project, whose foundation stone was laid in 2019 by the Odisha Chief Minister Naveen Patnaik, seems to be on the investment radar of many companies. Sources say several of the companies are keen to invest in the ports’ berthing facility designed to handle all kinds of vessels — Panama, Capesize, Super Capesize and Containerised cargo.  With the completion of the first phase the port’s handling capacity stands at 25 MTPA. In phase 2, this capacity will be ramped up to 35 MTPA. The total cost of setting up this port spread over 1,398 acres is around Rs 5,000 crore. The state government has already handed over 692.68 acre of land and the balance 705.35 acres will also be made available soon. Additionally, land requirements for road and rail connectivity are also being planned. When fully operational, Subarnarekha Port situated next door to the states of Jharkhand and West Bengal will play a major role in logistic cost sustenance and economic development of the state.