East India's deepest port at Dhamra in Odisha was dedicated to the nation by Chief Minister Naveen Patnaik on Sunday.
The port has been developed on a 50:50 joint venture by L&T and Tata Steel.
The construction of Phase-I commenced in March 2007 and was completed in 4 years. The port became commercially operational on May 6, 2011, official sources said.
"The inauguration of Dhamra port is a landmark in the history of Odisha's development as the state has got its second major port after a gap of 45 years," Patnaik said.
The new port is expected to become the gateway to the state's development, he said.
Union Shipping Secretary K Mohandas said the existing port handling capacity in the country has to be increased three times by 2020 from the present one billion tonnes to meet future export-import requirement.
Dhamra Port Company Limited (DPCL) has been awarded a concession by the state government to build and operate a port north of the mouth of Dhamra river in Bhadrak district on BOOST (Build, Own, Operate, Share and Transfer) basis for 34 years including a period of 4 years for construction.
During Phase-I, DPCL has constructed two fully mechanised berths of 350 meters each along with backup facilities for handling imports of coking coal, steam/thermal coal, limestone and export of iron ore.
The location of Dhamra in close proximity to the mineral belt of Odisha, Jharkhand and West Bengal and its deep draft suitable for large vessels, will make the port the most cost-effective and efficient port on the eastern coast of India, official sources said.