Following is an excerpt from a report in Pioneer.

… the CVR Navayuga Group on Monday inked an MoU sign with the State Government to develop a Greenfield port at Astaranga in Puri at a investment of Rs 6,000 crore. Astaranga is one of the 13 sites identified by the State Government for development of minor ports in the State.

… Chief Minister Naveen Patnaik said Navayuga Engineering had plans to invest Rs 1,500 crore in Phase 1 at Astaranga with a capacity of to move 25 million tones of cargo. "With the completion of the Phase -II and Phase-III, the total investment made at the location will be Rs 6,000 crore with a capacity of 60 million tonne," he said, adding that the project was estimated to yield revenue of Rs 20 crore per annum for Government during Phase-1 and Rs 1,000 crore per annum by the completion of Phase -III.

The project in its entirety shall be implemented over a period of eight years with Phase-1 being completed within 48 months. 10, 000 jobs will be created. The scope of the project also includes construction of a 50-km rail link to connect Astaranga with mainline at Khurda via Sakhigopal.

A report in Hindu has some more details. Following are excerpts.

The Hyderabad-based Navayuga Engineering Company has entered into a memorandum of understanding (MoU) with the Government of Orissa for the development of a modern deep water, all-weather, alongside-berthing, mechanised port at the Astaranga area located in Puri district, according to a company release. 

The MoU was entered on a build, own, operate, share and transfer (BOOST) basis. …

The first phase was planned to be made operational in four years. As per the concession agreement, all investment for the project should be arranged by the developer; the revenue share to the Government was fixed at five per cent for the first five years, eight per cent for sixth to 10th year, 10 per cent for 11th to 15th year and 12 per cent for the remaining period of 15 years.

The MoU had a provision of 30 years concession period and could be extended by an additional 20 years. The detailed concession agreement is to be signed within six months.