Odisha to sign lease for Subarnarekha port; Tata Steel to acquire 51% stake

The Defence ministry, which had earlier raised certain objections, has also given its nod for development of a port at the chosen site

The Odisha government will shortly sign a land lease agreement with the developers of the Subarnarekha port. The pact is meant to hand over 693 acres of land for first phase development of the port at Subarnarekha river mouth in Balasore district.

“All formalities are completed now. Only the agreement needs to be signed and we expect it anytime soon — the pact could be inked by the end of this month”, said an Odisha government official.

The agreement is to be signed between the Directorate of Ports & Inland Water Transport and Creative Port Development Pvt Ltd (CPDPL), the