Astaranga Port in Orissa has project cost of AED4.8 billion (US1.3 billion)

Expected to add further impetus to Indo-UAE trade

NEC has consolidated presence in the UAE with key projects in Abu Dhabi

Abu Dhabi, UAE; January 29, 2009: Navayuga Engineering Company Limited (NEC), a premier Indian infrastructure development company currently undertaking key projects in the UAE, has signed a Memorandum of Understanding (MoU) with the Government of Orissa, India, to develop a modern deep water, all-weather, alongside berthing, mechanized port in Astaranga.

The port in the Puri district of Orissa is being developed at an estimated cost of AED4.8 billion (US$1.3 billion) on a build, own, operate, share and transfer (BOOST) basis. The development by NEC will also include dedicated rail connectivity up to the port complex. The first phase is planned to be operational in a four-year period.

The MOU was signed by Mr Pradeep Kumar Jena, Commissioner-cum-Secretary, Commerce & Transport Department on behalf of the Government of Orissa, and Mr. C. V. Rao, Chairman on behalf of NEC, in the presence of Mr Naveen Patnaik, Chief Minister of Orissa, and other officials of the government and NEC.

Mr Antony A. David, General Manager, NEC - Abu Dhabi, said: "The signing of the MoU to develop a modern port in Astaranga will add further impetus to the trade relations between India and the UAE, adding to the logistical support that India can offer to UAE businesses. The port will offer easy linkages to several key markets in the country.  NEC is at the forefront of path-breaking developments, and is bringing in the high level of expertise to the UAE, one of the key international markets."

He added: "Having completed our first key project for City of Lights in Abu Dhabi, we are now undertaking a second contract valued at about AED50 million, with over 70 per cent work already completed. NEC's in-house competencies have helped us to cushion the impact of the global financial crisis and we are confident of registering positive growth this year in the Gulf markets."

The Astaranga port is envisaged to usher in large-scale socio-economic progress to Orissa, which has a vast coastline ideal for developing deep-draughted ports that are paramount for bringing in large ships.

-Ends-

About NECL:
Navayuga Engineering (NECL) is the flagship entity of the INR25 billion Navayuga Group, headquartered in Hyderabad, India. Navayuga Group is a leader in core infrastructure projects and foundation technology.

A multidisciplinary engineering and construction company, NECL is today one of the few Indian construction companies with the experience and expertise to provide innovative solutions in the field of specialised construction.

NECL integrates its resources and expertise to provide engineering solutions at optimum cost, reliability and time. NECL has a formidable reputation in the timely completion of projects and in maintaining long-term harmonious relationship with clients.

NECL's excellent track record in the industry and efforts have enabled it to take up multi-disciplinary turnkey projects on an EPC basis and infrastructure facilities on Build, Operate & Transfer and Annuity process basis. 

For more details, please contact:
Darshan Shankar                                                      
Director                                                                 
Communicraft FZ LLC                                      
37, Media Business Centre, Bldg 2, Dubai Media City       
Tel: +9714 2586005,
Mob: 050 4384838

Antony A. David
General Manager
NECL (Abu Dhabi Branch)
Tel: 00971 2 6318499

© Press Release 2009