Odisha To Develop ₹4,000-Crore Ship Recycling Hub Near Paradip Port

The Odisha government is planning to set up a ₹4,000-crore ship recycling hub near Paradip Port.

This project will be developed in collaboration with the Paradip Port Authority (PPA) and it aims to create a major centre for shipbuilding and repair.

Apart from this, Odisha is also focusing on expanding its port infrastructure. The state is planning to develop two new ports, one at Inchuri in North Odisha and another at Bahuda in South Odisha.

Both ports will have a capacity to handle at least 40 million tonnes of cargo annually, helping to improve the state’s logistics and maritime capabilities.

The Odisha government is working on improving rail connectivity to further support industrial growth. The Haridaspur-Paradip railway line, a key transport route for minerals and coal evacuation, is being doubled.

Odisha is involved as an equity holder in the special purpose vehicle (SPV) that is executing the project, and the state is ready to provide additional equity if needed to speed up the work.

The state is also focusing on diversifying its economy by investing in the hydrogen manufacturing sector. It expects to start hydrogen production by the end of 2026.

Additionally, the government is preparing policies to encourage the development of data centres and global capability centres (GCCs) in the region.

As part of this initiative, the state has identified 250 acres of land south of Bhubaneswar for the establishment of an electronic city. This area will be developed to attract technology companies and boost Odisha’s presence in the tech industry.

Reference: Economic Times

Source: Maritime Shipping News