Bhubaneswar: Odisha Chief Minister Naveen Patnaik will lay foundation stone for much-awaited Subarnarekha port project in Balasore District tomorrow.
A high level meeting chaired by Chief Secretary Aditya Prasad Padhi reviewed the project here today. The meeting was attended by Tata Steel MD and CEO T V Narendran and other stakeholders, sources said.
Tata Steel is the majority partner in the project having 51 percent share. The company has been given 692 acres of land to develop the port with an estimated cost of about Rs 5000 crore.
The port project will immensely contribute to the economic development of the district. It will create employment opportunities to more than 10,000 people both directly and indirectly.
With the commissioning of the port, the north Odisha would emerge as major economic hub in the State facilitating large volume of trade and commerce activities.
As per official sources, the all-weather port would be operational within three years while the construction would begin shortly after laying of foundation-stone by the Chief Minister.
Apart from the Subarnarekha port project, the Chief Minister will also lay foundation stones for other major development projects in the district on 13 February.