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Tata Seeks State Support

Tata Steel has sought the support of the State Government to develop Subarnarekha Port as the Primary Port of the Eastern Region.


T V Narendran, CEO and Managing Director , Tata Steel has written to the State Government in this regard as Tata Steel has increased its shareholding to 51 Percent in Creative Port Development Private Limited (CPDPL).

Mr.Narendran has said that as Tata Steel embarked on investing in Subarnarekha Port, conceptualized to be a deep drafted facility in the North Eastern Coast of Odisha.

In fact, Steel Major has employed the best Global Consultants to convert Capesize Facility and altered railway alignments to make it appropriate for large hinterland of Steel and Mining Industries.

Tata Steel has initiated plans to develop Subarnarakha Port as World Class Supporting Logistics after taking majority of shares in CPDPL.

CPDPL is the Concessionaire of Subarnarekha Port and Tata Steel has made this company its subsidiary.
So setting up of Subarnarekha Port brightens up not only Tat Steel takes over CPDPL Greenfield project, but also with the State Government has made requisite amount of land available for the port.
With the leasing out 693 Acres of land to set up a port the proposed capacity will be 25 Million Tons Per Annum (MPTA), which will be expanded to 55 MTPA. And there will be seven berths in the first phase, which will be enhanced to 12 berths in the phase II.

After a lapse of nearly 12 long years, scope of setting up a port turns feasible as the land has been alienated in favour of the promoter of the port by the State Government and Steel Major makes serious endeavour for it.

Notably, for development of port on Subarnarekha Mouth (Kirtania) in Balasore District, State Government and Creative Port Development Private Limited (CPDPL) entered into a MoU on 18 December, 2006.
 
Tata Steel Limited had signed a share purchase agreement to acquire 51 per cent equity shares of CPDPL and a shareholders’ agreement with CPDPL and its promoters for the development of Subarnarekha port through an SPV – Subarnarekha Port Private Limited.
 
Now with Tata Steel taking shares in SPPL, execution of port project will gain momentum, feel senior officials in the Department of Commerce & Transport (DoCT).

For Tata Steel, the Subarnarekha Port is expected to address its long-term strategic needs.
 
The port location also makes it attractive for the company to structurally enhance the competitive position of its Indian operations, especially the Kalinganagar Greenfield Steel Project in the state and recent acquisition of Bhusan Steel, now Tata Steel BSL.


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