For a period of three years, April 2009 to March 2012, Odisha has approved 37 projects on Public-Private-Partnership model covering various sectors like ports, real estate, food processing and tourism. Hyderabad-based Navyug Engineering Limited has been approved by the government to build a minor port at Astaranga in Puri district. The cost of the project is estimated at INR 7417 crore. Beginning with just the capacity of 25 million tonnes per annum, its final goal will be reaching 70 million tonnes per annum. Both the Government and the company entered into a Memorandum of Understanding (MoU) last December 2008 and a concession agreement was signed on 22 November, 2010. According to the agreement, 5% of the port’s gross income for first five years will go to the port developer; 8% for the next five years and 10% from 11th year to 15th year, and, finally, 12% from the 16th year till the end of the lease period. The Government has also given permission for a captive port at Chudamani in Bhadrak district to Aditya Birla Group firm Essel Mining Industries Limited. The port will attract an investment of INR 500 crore initially with an operational capacity of three million tonnes per annum.
Wednesday, 12 September 2012
A minor port at Astaranga in Puri district, approved by the government
For a period of three years, April 2009 to March 2012, Odisha has approved 37 projects on Public-Private-Partnership model covering various sectors like ports, real estate, food processing and tourism. Hyderabad-based Navyug Engineering Limited has been approved by the government to build a minor port at Astaranga in Puri district. The cost of the project is estimated at INR 7417 crore. Beginning with just the capacity of 25 million tonnes per annum, its final goal will be reaching 70 million tonnes per annum. Both the Government and the company entered into a Memorandum of Understanding (MoU) last December 2008 and a concession agreement was signed on 22 November, 2010. According to the agreement, 5% of the port’s gross income for first five years will go to the port developer; 8% for the next five years and 10% from 11th year to 15th year, and, finally, 12% from the 16th year till the end of the lease period. The Government has also given permission for a captive port at Chudamani in Bhadrak district to Aditya Birla Group firm Essel Mining Industries Limited. The port will attract an investment of INR 500 crore initially with an operational capacity of three million tonnes per annum.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment