Tata Steel

Tata Steel likelyl to invest Rs 5,000 crore to develop Subarnarekha port

Tata Steel is planning to develop the Subarnarekha port at the northern-most tip of Odisha.

To be developed at a cost of Rs 4,000-5,000 crore in three to four years, the port will have the capacity to manage large-sized ships.

According to a BusinessLine report, the precise location in north Odisha will allow the Subarnarekha port immediate proximity to West Bengal, Jharkhand, Bihar, and even Nepal.

“The port is likely to have the potential to handle large ships with 180,000 dead weight tonnage capacity with 18-metre draft that will help Tata Steel lower its transport and product costs,” it added.

Image Credit : steelguru.com