Bhubaneswar: In a significant push for port-led development in Eastern India, a landmark Memorandum of Understanding (MoU) was formally signed for the development of a massive new deep-water port at Bahuda, Odisha.
The strategic agreement, estimated to attract an investment of approximately ₹21,500 crore, involves the Paradip Port Authority (PPA), the Visakhapatnam Port Authority (VPA), the Sagarmala Finance Corporation Limited (SFCL), and the Government of Odisha.
The Bahuda Port, situated in the Ganjam district, is being designed with a prodigious initial capacity of 150 Million Tonnes Per Annum (MTPA). It is poised to function as a crucial satellite port to the existing Paradip Port and is aligned with the national ‘PM Gati Shakti’ master plan and ‘Maritime India Vision 2030’.
The state government has earmarked more than 6,700 acres of coastal salt land for the project, confirming its commitment to creating a world-class maritime and industrial hub.
The facility is expected to act as a catalyst for a chain of port-led industrialisation initiatives. This includes the establishment of large-scale logistics parks and manufacturing clusters not just across Southern Odisha but extending into northern Andhra Pradesh.
Officials project the port and its ancillary industries will generate up to 25,000 direct and indirect employment opportunities, providing a major economic lift to the region.
The move is a core component of Odisha’s maritime strategy, aimed at augmenting its cargo handling capacity and establishing the state as the premier trade and logistics gateway for Eastern and Central India.
Sources indicate that the PPA will be the lead partner in the Special Purpose Vehicle (SPV) formed to execute the project, leveraging its deep experience in port operations to ensure timely and effective development of the ambitious greenfield venture.