Odisha inks ₹50,000 crore MoUs in maritime sector at India Maritime Week 2025 to boost port development, shipbuilding, and blue economy growth
OdishaPlus Bureau
Demonstrating its maritime capabilities and vast potential in the blue economy during the India Maritime Week (IMW) 2025 in Mumbai, the Odisha government on Monday entered into nine Memorandums of Understanding (MoUs) valued at Rs 50,000 crore within the sector, which encompasses the construction of new ports, shipbuilding, connectivity, logistics, and waterways.
The investment agreements were signed in the presence of Chief Minister Mohan Charan Majhi. “Odisha is dedicated to establishing a robust port-led and port-based economy to convert our ports into engines of trade, industry, and employment, thereby propelling India’s growth trajectory for the next 25 years,” he stated.
Participating in the opening session of the event, organized by the Ministry of Ports, Shipping and Waterways in collaboration with the Indian Ports Association (IPA), alongside Union Home Minister Amit Shah, Majhi emphasized Odisha’s maritime vision, which seeks to increase port capacity to 500 million tonnes by 2047, including the development of 14 new ports.
Odisha’s maritime capabilities are ushering in a new phase of industrial and economic advancement. With ports such as Paradip, Dhamra, Gopalpur, and the forthcoming ports at Astaranga, Jatadhari Muhan, Subarnarekha, and Bahuda, we are increasing our overall port handling capacity to 500 million tonnes per year, bolstered by three significant ship anchorage points,” he stated.
The Paradip Port Authority (PPA) and the Odisha Maritime Board (OMB) have formalized a Memorandum of Understanding (MoU) for the establishment of a large-scale shipbuilding cluster at the mouth of the Mahanadi River in the Kendrapara district, with an investment totaling Rs 22,700 crore.
Additionally, the PPA, OMB, and Sagarmala Finance Corporation have agreed to construct an all-weather satellite major port at Bahuda Muhana in the Ganjam district, with an estimated expenditure of Rs 21,500 crore.
Furthermore, the state Commerce and Transport department has signed an MoU with the Indian Ports Association for the development of a cruise terminal for Rs 500 crore, while the PPA and OMB will also establish an international cruise terminal at Puri with a similar financial outlay.
The Inland Waterways Authority of India, along with PPA, OMB, and the Ministry of Coal, has signed a Memorandum of Understanding (MoU) to operationalize National Waterway (NW-5). This initiative will establish an additional transport route for mineral and metal cargo to and from the ports of Dhamra and Paradip.
Berhampur University and Indian Maritime University have reached an agreement to collaborate on scientific and educational initiatives, the development of a maritime museum, and the construction of a four-lane road in partnership with the Indian Port Rail & Ropeway Corporation Limited (IPRCL).
The Chief Minister has encouraged investors to investigate the maritime opportunities and the potential of the blue economy in Odisha, which is emerging as a maritime hub on India’s eastern coast. While chairing a special session in Odisha focused on ‘Port-led development of Odisha – A perspective plan for 2024’, the Chief Minister reiterated the state’s commitment to creating a modern, sustainable, and globally competitive maritime ecosystem, underpinned by policy stability, infrastructure development, and active participation from the private sector.
He also engaged with prominent industry representatives from the port and blue economy sectors, encouraging them to investigate investment opportunities and capitalize on Odisha’s swiftly evolving maritime and coastal ecosystem.