Odisha signs Rs 50,000 cr worth MOUs for growth of port-based economy

Odisha government agencies on Monday signed a slew of MoUs worth Rs 50,000 crore across sectors, including shipbuilding, ship repair, port modernization, smart port initiatives, business development, and Green Hydrogen projects, at the India Maritime Week conclave in Mumbai.

Speaking at the conclave, Chief Minister, Mohan Charan Majhi said Odisha is committed to build a strong port-led and port-based economy in a bid to transform ports into engines of trade, industry, and employment.

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Majhi joined the inaugural session of India Maritime Week (IMW) 2025, alongside Union Home Minister Amit Shah, who graced the occasion as Chief Guest.

The event, hosted by the Ministry of Ports, Shipping and Waterways and organized by the Indian Ports Association (IPA), brought together leaders from over 100 countries, including policymakers, industry experts, innovators, and investors, to deliberate on the future of the global maritime sector and India’s growing leadership within it.

Speaking during the special Odisha session, Chief Minister Majhi highlighted Odisha’s strategic position as India’s emerging maritime hub on the eastern coast.

With Paradip, Dhamra, Gopalpur, and upcoming ports at Astaranga, Jatadhari Muhan, Subarnarekha, and Bahuda, Odisha is expanding total port handling capacity to 500 million tonnes annually, supported by three major ship anchor points, CM claimed.

The Bahuda Port with an investment of Rs 21,500 crore and Rs 24,700 crore towards shipbuilding and repair cluster, along with the Puri Cruise Terminal, will redefine Odisha’s coastal economy and global trade linkages.

With stable governance, skilled manpower, and investor-friendly reforms, Odisha stands as a rising maritime hub of Eastern India. I warmly welcome investors to be part of this transformative journey”, said maintained Majhi.

At the conclave, the State Government inked a slew of MoUs worth Rs 50,000 signed for growth of port-related economy in the State.

While MoU was inked between Commerce & Transport Department & Indian Ports Association for development of Cruise Terminal amounting to Rs 500 crore, Paradip Port Authority & Odisha Maritime signed another MoU for development of International Cruise Terminal at Puri valued at Rs 500 crore.

Besides MoU between Inland Waterways Authority of India, Paradip Port Authority, Odisha Maritime Board & Ministry of Coal, Government of India for Operationalisation of National Waterways-5 was signed.

Another MoU was signed for scientific and educational cooperation between Berhampur University, Odisha and Indian Maritime University.

Furthermore, a MoU worth Rs 21,500 crore was signed between Paradip Port Authority, Odisha Maritime Board & Sagarmala Finance Corporation Limited for development of an all-weather Satellite Major Port at Bahuda Muhana, Chikiti Tehsil, Ganjam.

A Rs 22,700 crore memorandum of Understanding (MoU) between Paradip Port Authority, Odisha Maritime Board for development of National Mega Ship Building Cluster, Odisha was also signed .

Additionally MoUs were signed with Indian Port Rail & Ropeway Corporation Limited (IPRCL) for Maritime Museum and four lane road projects. The State Government also signed an MoU with IFFCO for cargo movement.

During the maritime conclave, proposals were received from the Reliance consumer Limited with the company planning to set up a manufacturing facility for biscuits, beverages, juice and confectionery at Ambhabil, Khordha with an investment of Rs. 938 crore. The proposed facility will have capacity to produce 14,000 TPA of biscuits, 18 million cases/annum beverages, 3.6 million cases/annum juice and 7,000 TPA confectionery.

Jain metals has also proposed to set up a 45,000 MT Titanium Metal and Titanium Dioxide plant in Ganjam with a total investment of Rs. 2,100 crores, according to a statement issued by the Chief Minister’s Office.