Bhubaneswar Buzz

A joint Venture OTDC and IDCO formed for Shamuka tourism project in Odisha, can it deliver?

Image source: OrissaLinks

Image source: OrissaLinks

Odisha government decided to implement the Shamuka beach project near Puri on fast track basis. The state has decided to form a joint venture companynamely, Shamuka Tourism Development Corporation Ltd (STDCL)for implementation of Shamuka project and development of othertourism projects around Puri town and peripheral tourist locations like Chilka, Satapada and Raghurajpur. Both OTDC (Odisha Tourism Development Corporation) andIDCO (Industrial Infrastructure Development Corporation) willhave an equal equity participation in STDCL. Initially both OTDC and IDCO will invest Rs 5 crore eachequity capital in the proposed JV company.

The registered office of the company will be at Purifor close monitoring of the project.

About 982 acres of land has been acquired for the Shamuka project in the Mauza Sipasarubali near Puri city. The approachroad up to the site and power station for the project are already in place.