In a major boost to India’s maritime infrastructure, Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation Ltd, and the Odisha government will jointly develop a new major port at Bahuda in Odisha’s Ganjam district, with an estimated investment of Rs 215 billion. Once operational, the port will become the 14th major port owned by the Union government.The proposed Bahuda port will accommodate dry bulk ships ranging from 40,000 to 150,000 deadweight tonnes and container vessels capable of carrying up to 6,000 TEUs. The project follows a Pre-Techno Economic Feasibility Study conducted by the Odisha government, highlighting the port’s strategic importance in enhancing regional trade and promoting port-led industrialisation.A memorandum of understanding (MoU) for the project is set to be signed on September 20 in Bhavnagar, Gujarat, in the presence of Prime Minister Narendra Modi. The agreement will bring together key stakeholders, including Paradip and Visakhapatnam port authorities, Sagarmala Finance Corporation Ltd, and the Odisha government.Sagarmala Finance Corporation Ltd, an NBFC focused on maritime sector development and registered with the Reserve Bank of India, will play a pivotal role in funding the port. The corporation plans to provide short-term, medium-term, and long-term loans to support port modernisation, connectivity, coastal community development, and associated infrastructure projects. The initiative aims to catalyse port-led growth, improve connectivity via road and rail links, and promote industrial development along Odisha’s coastline.Eastern India already hosts Paradip, Dhamra, and Gopalpur ports, with private ports at Dhamra and Gopalpur operated by Adani Ports and Special Economic Zone Ltd (APSEZ). Additionally, Tata Steel Ltd is developing a port at Subarnarekha Mouth (Kirtania), and Navayuga Engineering Company Ltd is working on a port at Astaranga, reflecting a robust port development ecosystem. The Bahuda project is expected to further strengthen India’s maritime capabilities and economic prospects.