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Prafulla Das

To develop a deep-water all-weather port at Kirtania in Balasore district

Bhubaneswar , Dec. 18

The Orissa Government on Monday signed a memorandum of understanding with Creative Port Development Private Ltd, Chennai, to develop a deep-water all-weather port at Kirtania near Subarnarekha river mouth in Balasore district of Orissa.

BOOT basis

The port will be set up on build, own, operate, share and transfer basis. All investment for the project will be arranged by the developer.

The revenue share to the Government will be at five per cent from first to fifth year; eight per cent from sixth to tenth year; 10 per cent from 11th to 15th year and 12 per cent for the remaining period of 15 years. The MoU that was signed by the Joint Managing Director of Creative Port, Mr Ramani Ramaswamy, and the Principal Secretary in the State Government's Commerce and Transport Department, Mr Priyabrata Patnaikhas. A provision of 30-year concession period can be extended by an additional period of 20 years.

Capacity

The first phase of the port, with a capacity to handle 10 million tonne per annum, will be completed at an estimated cost of Rs 2,000 crore and the same will be commissioned by 2010. The port will increase its capacity to 50 MTPA by the 10th year.

Attending the MoU signing ceremony at the State Secretariat, the Chief Minister, Mr Naveen Patnaik, said that the port would be developed with a private investment as per the provisions of the port policy implemented by his Government in 2004. Mr Patnaik said that development of ports had become necessary as the State is likely to generate cargo of more than 2,000 MTPA by 2015. He expressed hope that the port at Kirtania will lead to socio-economic development in Balasore district with a generation of direct and indirect employment.

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