The Orissa government signed a memorandum of understanding with the Aditya Birla Group for the setting up of INR 1500 crore captive port at Chudamani in Bhadrakh district.
Mr P K Jena commerce and transport secretary and Mr K Muralidharan CEO of ABG signed the papers in the presence of the chief minister of Orissa. The port project will be developed in phases with the total investment projected at INR 1500 crore. The company will operate the port on Build Own Operate basis. The captive port will cater to the requirement of the group company and will have a 3 million tonne cargo handling capacity initially which will increase subsequently to 10 million tonne when fully commissioned.
A consortium of Aditya Birla Group companies will develop the port which will handle captive cargo like cement, aluminium iron ore, thermal coal, limestone, gypsum, clinker and copper on behalf of different group companies. The port will have two berths and will be connected by a rail corridor from Markona station. The project is slated to be completed in four years.
The chief minister said that the port promoters should encourage container movement which will support the initiatives of the state government to increase value addition through downstream and ancillary activities. The project is expected to generate INR 20 crore revenue for the state government annually.
Mr Patnaik hoped the promoters would work with the district administration and Idco to plan and develop a port-based industrial township. This will help in maximum multiplier effect for a balanced regional and social growth.
Mr Sanjeev Sahoo commerce and transport minister said that the captive port project will be able to fulfill the aspirations of the people of Bhadrakh district. He hoped that the construction work of the project will be completed within schedule.
Mr Ravi Kastia executive president of ABG said that Chudamani port project will act as catalyst in deepening co operation and exploring new developmental activities by ABG. He said that “We are confident that ABG’s experience in putting up as many as six port facilities in the western coast, backed by unstinting support of the Orissa government, will help us establish this much required port in Orissa.”
(Sourced from Business Standards)
