Aditya Birla Group signs MoU for captive port in Orissa
23 Oct 2009
Essel Mining and Industries Ltd, an Aditya Birla group company, yesterday signed a memorandum of understanding with the Orissa government to develop a captive seaport at Chudamani in Bhadrak district at a cost of Rs1,500 crore.
The port, to be set up on the build-own-operate model, is expected to complement the group's operation in the state. "Our aim is to build a truly world class port in its category,'' Ravi Kastia, group executive president, said. He pointed out that the group had set up as many as six similar facilities on the western coast.
The project is to be developed in a phased manner, and would be completed and made operational within four years. It would handle 3 million tonnes cargo to begin with, and would be able to handle 10 mt when fully functional.
The port will have two berths for handling bulk cargo such as cement, aluminium, iron ore, thermal coal, limestone, gypsum, clinker, and copper. The port will be connected by a rail corridor from Markona Station to the port site.
The MoU was signed in the state capital of Bhubaneshwar by commerce secretary P K Jena and Chudamini Port chief executive officer M Murlidharan on behalf of the state government and the company respectively.
Chief minister Naveen Patnaik, who was present, said on the occasion, "In this port, directly or indirectly, about 5,000 people will be employed. By operation of the port, the state government will get revenue about Rs20 crore per annum."
Patanik hoped that the port promoter would work with the district administration and other agencies to plan and develop a port-based industrial township. "By this, maximum multiplier effect for a balanced regional and social growth can be achieved," he said.
