Tata Steel takes up ₹3,000-cr port project in Odisha
Tata Steel will build a port on the Subarnarekha river's mouth in Odisha at an estimated cost of ₹3,000 crore for which it will secure all the mandatory approvals, shortly. The company commands 51 percent ownership and has a concession agreement for developing the port, which would be of importance not just for Odisha but also for Jharkhand and West Bengal. It would be able to handle about 25 million tons of cargo, annually. Strategically, the Subarnarekha port could turn out to be the best port for Tata Steel's Jamshedpur steel mill, as the company has been servicing the Jamshedpur steel plant from the ports at Paradip and Dhamra, and Subarnarekha would become the best port for servicing Jamshedpur.
📅Published on:
15 February 2019
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