Paradip, November 5: Chief Minister Mohan Charan Majhi on Wednesday announced an investment of Rs 46,000 crore for port-based development, establishment of a shipbuilding and repairing factory and a world-class cruise terminal in Odisha.

Gracing the Boita Bandana Utsav-2025 organised at the Paradip Port, the Chief Minister said that out of the total Rs 46,000 crore investment plan, Rs 25,000 crore will be spent on developing the Bahuda port in Ganjam district and Rs 24,700 on establishing a shipbuilding and repairing factory at the Mahanadi river mouth in Paradip and a world-class cruise terminal in Puri.

“I hope that these projects would give a new direction to Odisha’s key sectors of commerce, tourism, and industry,” said Majhi.

Highlighting the crucial role of Paradip Port in Odisha’s progress, Chief Minister Majhi said, “Paradip Port has been recognised as one of India’s leading major ports. In 2015, the port had a cargo handling capacity of 71 million tonnes, which has increased to 150 million tonnes in 2025. Paradip Port is the gateway to modern Odisha’s development - the cornerstone of its economy.”

He announced that, under the “Maritime India Vision 2030,” Paradip Port will be developed to a mega port with an annual cargo handling capacity of 300 million tonnes, and under the “Viksit Bharat 2047” plan, this capacity will further rise to 500 million tonnes.

Industries Minister Sampad Swain, Jagatsinghpir MP Bibhu Prasad Tarai also graced the event.