MUMBAI (Commodity Online): A Consortium of Aditya Birla group companies would develop a port on the coast of Orissa for cargo handling of cement, aluminium, iron ore, thermal coal, limestone and other minerals on behalf of different group companies.
The Orissa government had signed a memorandum of understanding (MoU) with the Aditya Birla group (ABG) for setting up of a Rs.1500 crore captive port at Chudamani in Bhadrakh District.
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The port will have two berths and will be connected by a rail corridor from Markona station. The project is slated to be completed in four years.
The company will operate the port on Build-Own-Operate (BOO) basis. The captive port will cater to the requirement of the group company and will have a 3 million tonne cargo handling capacity initially, which will increase subsequently to 10 million tonne when fully commissioned.
The project is expected to generate Rs 20 crore revenue for the state government annually.
