BHUBANESWAR: Showcasing its maritime strength and immense opportunities in blue economy at the India Maritime Week (IMW) 2025 in Mumbai, the Odisha government on Monday signed nine MoUs worth Rs 50,000 crore in the sector, including construction of new ports, shipbuilding, connectivity, logistics and waterways.
The investment proposals were inked in the presence of Chief Minister Mohan Charan Majhi. “Odisha is committed to building a strong port-led and port-based economy to transform our ports into engines of trade, industry and employment and drive India’s growth journey for the next 25 years,” he said.
Joining the inaugural session of the event, hosted by Ministry of Ports, Shipping and Waterways in association with the Indian Ports Association (IPA), alongside Union Home minister Amit Shah, Majhi highlighted Odisha’s maritime vision that aims at enhancing port capacity to 500 million tonne by 2047, with development of 14 new ports.
“Odisha’s maritime strength is driving a new era of industrial and economic growth. With Paradip, Dhamra, Gopalpur, and upcoming ports at Astaranga, Jatadhari Muhan, Subarnarekha, and Bahuda, we are expanding our total port handling capacity to 500 million tonnes annually, supported by three major ship anchor points,” he said.
The Paradip Port Authority (PPA) and Odisha Maritime Board (OMB) signed MoU for development of a mega shipbuilding cluster at the mouth of Mahanadi river in Kendrapara district with an investment of Rs 22,700 crore. The PPA, OMB and Sagarmala Finance Corporation entered into a pact for constructing an all-weather satellite major port at Bahuda Muhana in Ganjam district at a cost of Rs 21,500 crore.
The state Commerce and Transport department signed an MoU with Indian Ports Association for development of a cruise terminal at Rs 500 crore, while the PPA and OMB will establish an international cruise terminal at Puri with similar cost.
The Inland Waterways Authority of India, PPA, OMB and Ministry of Coal also signed an MoU for operationalisation of National Waterway (NW-5), creating an additional transport avenue for mineral and metal cargo to and from Dhamra and Paradip port.
Berhampur University and Indian Maritime University have agreed on scientific and educational cooperation, development of a maritime museum and four-lane road in association with Indian Port Rail & Ropeway Corporation Limited (IPRCL).
The CM invited investors to explore the maritime opportunities and blue economy potential of Odisha which is emerging as a maritime hub of India’s eastern coast. Chairing a special Odisha session on ‘Port-led development of Odisha-A perspective plan for 2024’, the chief minister reaffirmed the state’s vision to build a modern, sustainable and globally competitive maritime ecosystem, supported by policy stability, infrastructure development and private sector participation.
He also interacted with leading industry representatives from the port and blue economy sectors and invited them to explore investment opportunities and take the advantage of Odisha’s rapidly developing maritime and coastal ecosystem.