The Odisha Government is planning to invest ₹4,000 crore in a ship recycling hub near Paradip Port, India, aiming to create a major centre for shipbuilding and repair.
Apart from the ship recycling hub, according to the local reports, Odisha is also focused on expanding its port infrastructure, with plans to additionally develop two new ports: one at Inchuri in North Odisha and another at Bahuda in the South.
Both ports are expected to handle at least 40 million tonnes of cargo annually enhancing the state’s logistics and maritime capabilities.
Moreover, in its efforts to diversify the economy, Odisha is investing in the hydrogen manufacturing sector, with plans to begin hydrogen production by the end of 2026. The government is also preparing policies to foster the development of data centres and global capability centres (GCCs) in the region.
To remind, recently the Union Minister of Ports, Shipping & Waterways of India announced initiatives to boost the capacity at Kandla Port with investment of more than ₹57,000 crores.