Odisha inks Rs 21,500 cr. MoU for port at Bahuda

The Odisha government has partnered with the Sagarmala Finance Corporation and the port authorities of Paradip and Visakhapatnam to develop a deep-sea greenfield port at Bahuda in Ganjam district, along with a port-led industrial zone spanning over 6,000 acres. The Rs 21,500 crore MoU for the Bahuda port was signed in the presence of the Prime Minister Mr Narendra Modi at the Transforming Maritime Sector Conclave in Bhavnagar, Gujarat, as per reports. Paradip Port Authority will lead the project, holding a 51% stake in the special purpose vehicle (SPV). Odisha Maritime Board will hold 26%, Sagarmala Finance Corporation 9% and Visakhapatnam Port Authority 14%. The SPV will oversee infrastructure, facilities and ancillary development. With a proposed capacity of 150 million tonnes per annum, Bahuda will rank among India’s Major Ports, aligned with the Maritime India Vision 2030 and PM Gati Shakti National Master Plan, the reports said.

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