Paradip port to sign MoUs worth Rs 1.5 lakh crore

Bhubaneswar: Bringing more investments to Odisha, particularly in the port and logistics sector, Paradip Port is going to sign Memorandums of Understanding (MoUs) worth Rs 1.5 lakh crore at the upcoming India Maritime Week scheduled to be held in Mumbai from October 27 to 31, port officials said.

The investments include shipbuilding, ship repair, port modernisation, smart port initiatives, business development, and green hydrogen projects.

The Ministry of Ports, Shipping and Waterways is set to host India Maritime Week in Mumbai. The event, the largest maritime conclave in the world, will bring together over 100 maritime nations, 200 international experts, and 500 leading maritime industries, making it a premier platform for knowledge sharing, investment opportunities, and technology exchange in the maritime sector.

Recently, Paradip Port was notified as a Green Hydrogen Hub, becoming one of only three ports in India to receive this distinction, alongside Tuticorin and Kandla. The Odisha government will also participate in India Maritime Week with a dedicated session on the state’s maritime development, sources said.

Odisha has already signed MoUs with Paradip Port Authority for strategic projects including the Bahuda port development and a shipbuilding centre in Kendrapara district, expected to generate significant employment and economic growth.

In addition, Odisha will sign an MoU for the development of a cruise terminal in Puri during IMW 2025, aimed at promoting maritime tourism. The first phase will focus on Puri, with the second phase extending the cruise terminal to Paradip within the next two to three years.

To create public awareness, Paradip Port has launched initiatives, including sand art at Paradip Beach, along with advertisements, hoardings, podcasts, and social media campaigns timed with the Diwali festivities.

These initiatives reflect the joint commitment of the Government of Odisha, Paradip Port, and the Ministry of Ports, Shipping and Waterways to drive economic development, create employment, and promote maritime awareness in Odisha and beyond.

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