Paradip, Oct. 26: A general manager of Hyderabad-based shipping company, Seaways Shipping and Logistics Ltd, was shot dead by goons around 9.20am today on a busy road near Kendriya Vidyalaya.

Security has been tightened in the port township and additional armed police forces have deployed following the murder.

The deceased, Mahendra Kumar Swain, in his forties, was on his way to the Paradip unit of the company when the incident occurred.

It is said that the shipping company and local stevedores and service providers were not on good terms over business.

Local stevedores had vehemently opposed a cargo-handling contract that was awarded to the Hyderabad firm. Port operations were hit for several days in July and September.

Central Industrial Security Personnel Forces and the state police had to be deployed. Besides, prohibitory order under Cr PC Section 144 also had to be enforced.

The police said the criminals were on a motorbike and were wearing helmets. They had waylaid the car in which Swain and his personal security staff were travelling, said an official.

"They hurled at least two crude bombs that brought the car to a halt. Sensing trouble, Swain tried to escape, but the goons indiscriminately fired bullets at him. Two bullets pierced through his forehead and throat and he died on the way to the hospital," said Paradip additional superintendent of police, Gadadhar Pradhani.

"The murder was executed with professional expertise. The criminals fled the spot quickly after resorting to blank fire to terrorise people," a police official said.

The murder took place in such a short time that the people on the spot could hardly react, the official added.

"The murder was executed by criminals who might have been hired by rival business houses. From the preliminary investigation, it has become apparent that the murder was the result of the stevedores' rivalry. Those who planned the murder would be booked shortly," said Pradhani.