Calcutta, Nov 4 :    Calcutta, Nov 4:  The West Bengal government today signed an agreement with the Mukand-Keventer Consortium for setting up the state's first minor port in the private sector at Kulpi, South 24-Parganas. The port will also have an export-oriented special economic zone (SEZ). The memorandum of understanding (MoU) for the port project was signed by Somnath Chatterjee, chairman of the West Bengal Industrial Development Corporation and Rajesh Shah, director of Bengal Port Ltd, a partner of the Mukand-Keventer consortium, in the presence of outgoing chief minister Jyoti Basu, at the latter's residence. Basu and transport minister Subhas Chakraborty also signed the MoU as witnesses. The project has also received an 'in-principle' clearance from the ministry of surface transport. Following the clearance, the state transport department will sign an agreement with the Calcutta Port Trust for denotification of the waterfront where port facilities are to be created at Kulpi. The latter will then denotify the 3.5 km long waterfront at Kulpi from the limits of the port of Calcutta and hand over the same to the state government for development of the minor port. The Rs 800 crore minor port project was conceived on October 5, 1994, following the state government's industrial policy statement in September that year. The Mukand-Keventer Consortium will hold 89 per cent of the equity while WBIDC will hold 11 per cent. Basu later told reporters that his government's efforts to make the state industrially viable would continue. He said the state government had received a letter from the Centre a few days back clearing the project. He hoped that the project, when implemented, would not only ensure industrial development of the area but also generate more employment. Signing the MoU, Somnath Chatterjee, said the feasibility report for a special economic zone which will be set up on an 8,000 hectare land adjacent to the Kulpi port, is under preparation. The report has yet to receive the Centre's approval. Construction of the project will commence within the next 12 months after the state government signs the pact with the CPT, Rajesh Shah said, adding that construction was expected to be completed in two-and-a-half years.