Consortium to invest Rs 1700 cr to devp Gopalpur Port

Bhubanswar, Sep 14: A consortium of Orissa Stevedores Limited (OSL), Sara International Limited(SARA) and Noble Group Limited (Noble) today signed a concession agreement with the Orissa government to develop Gopalpur Port with an investment of Rs 1700 crore.

The investment, considered to be the largest in the port sector development by private sector in the Eastern India, would turn the Gopalpur Port into a multi-berth and all-weather port with handling capacity of 10 million tonne in next four years.

OSL Managing Director Mahima Mishra and Orissa Commerce and Transport Secretary Priyabatta Pattnaik signed the concession agreement in presence of Chief Minister Naveen Patnaik, Commerce and Transport Minister Jayanarayan Mishra and Chief Secretary Subash Pani.

Out of Rs 1700 crore to be invested in the development of the port, the consortium would bring in their equity of Rs 450 crore, while the balance money would be raised from financial institutions.

Speaking on the occasion, Chief Minister Naveen Patnaik said the port would be developed into a all weather port and handle 10 million tonne capacity in the next four years to benefit the people of Orissa.

He said a Titanium Dioxide plant in the area would be soon established and the Special Economic Zone would be set up at Gopalpur to encourage several industries.

The Orissa government, he said, was also exploring the possibility of formation of a special purpose vehicle for construction of extension of Nuapada-Gunupur railway line to Therubali to provide connectivity to the Alumina industries in the KBK districts with the Gopalpur Port.

Mr Patnaik further said the government would be building with its own resources 1000 km road of national highway standards linking KBK with the Gopalpur and other parts of the state. He hoped the Gopalpur port with an excellent locational advantage would be developed into a full fledged port in a very short time.

UNI