Balasore: Chief Minister Naveen Patnaik today laid the foundation stone for the much-awaited Subarnarekha port here.
The proposed port project in the partnership of TATA Steel will be built at expenses of around Rs 5,000 crore. The port with an estimated cargo handling capacity of 25-55 million MT per annum will create 12,000 jobs in Odisha.
The project was delayed due to objections from the Ministry of Defence even after it had obtained environmental clearance. Later, it got a nod from the ministry last year.
According to reports, of total 961.18 acre required for construction of the port, Odisha government has provided over 692.68 acre to the Subarnarekha Port Private Limited (SPPL) for the project. The rest will be handed over soon.
Initially, the Subaranarekha port will have a capacity of 10 million MT per annum, which will be later increased to 40 million MT per annum in 10 years.
Besides, Patnaik launched a slew of projects during his visit to Balasore district.