State-owned Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation Ltd (SFCL) and the Odisha government will jointly develop a new major port at Bahuda in Ganjam district, Odisha, with an investment of ₹21,500 crore, multiple sources confirmed.
Planned with a capacity of 150 million tonnes (mt), the Bahuda port will become India’s 14th major port and the second Union government-owned port in Odisha after Paradip. The state also hosts two operational private ports—Dhamra and Gopalpur, both run by Adani Ports and Special Economic Zone Ltd (APSEZ). Additionally, two more private ports are under development at Subarnarekha Mouth (Kirtania) by Tata Steel Ltd and Astaranga by Navayuga Engineering Company Ltd.
The Odisha government has already conducted a Pre-Techno Economic Feasibility Study for Bahuda, envisaging a port capable of handling 40,000 to 1,50,000 DWT dry bulk vessels and container ships of up to 6,000 TEUs capacity.
A memorandum of understanding (MoU) to formalise the project will be signed on September 20 at a ceremony in Bhavnagar, Gujarat, in the presence of Prime Minister Narendra Modi.
The project’s financing will be supported by Sagarmala Finance Corporation Ltd, a Non-Banking Financial Company (NBFC) dedicated to the maritime sector. Recently registered with the Reserve Bank of India (RBI), SFCL aims to offer customised financial products to stakeholders such as port authorities, shipping firms, MSMEs, shipyards, inland waterway operators, renewable energy players, and industries in coastal economic zones.
SFCL’s financing focus includes port modernisation, connectivity (road and rail), port-led industrialisation, coastal community development, and inland waterways. The Corporation will extend short-term (up to 1 year), medium-term (1–3 years), and long-term (3–15 years) loans to catalyse growth in India’s maritime sector, enhancing port capacity and related infrastructure with forward and backward linkages.
With Bahuda port, Odisha is set to further cement its position as a strategic maritime hub on India’s eastern seaboard, boosting trade, logistics, and industrial activity in the region.