Odisha Chief Minister Naveen Patnaik laid the foundation stone for a Rs 5,000 crore new port in Balasore district. The all-weather commercial Subarnarekha Port is being developed jointly by Tata Steel having 51 per cent share and Chennai based Creative Port Private Ltd (CPPL) with 49 per cent share, is scheduled to be commissioned within 36 months period. According to sources, when commissioned, Subarnarekha port draft would be 18 meters, the deepest in the Odisha coast. The other two ports at Paradip and Dhamara have draft of 14.5 meters and 17.2 meters respectively. As per reports, port would have an initial capacity of 10 million tonnes per annum (MTPA), which is to be raised to 40 MTPA over 10 years.