India News | Odisha Approves Seven Key Projects with Rs 80,125 Cr Investment

Bhubaneswar, Mar 8 (PTI) The Odisha government has approved seven key projects with an investment of Rs 80,125 crore in different sectors, an official said.

The projects received the state government's nod at a High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Naveen Patnaik on Thursday.

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These investments are expected to create job opportunities for 24,552 people in various sectors, including steel, green energy, pharmaceuticals, and chemicals, the official said.

These projects are spread over Khurda, Jagatsinghpur, Jharsuguda, Ganjam, and Bhadrak districts, he said.

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Granules Life Sciences Private Limited, a leading producer of paracetamol in India, has proposed to set up its pharmaceutical unit at Tata SEZ, Gopalpur in Ganjam district.

The company aims to produce 4 billion units of paracetamol, metformin, ibuprofen and other pharma products, for which it will pump in Rs 1,100 crore in the Ganjam plant, generating jobs for around 1,500 people.

Granules CZRO Private Limited will also set up a chemical plant for its pharmaceutical products at the Tata SEZ, investing Rs 2,000 crore and creating jobs for around 1,000 people, the official said.

EG Solwin Hybrid Private Limited will establish a 0.30 MT green ammonia production unit at the Tata SEZ, investing Rs 6,330 crore and employing 1,050 people.

ACME Greentech Urja Private Limited has plans to set up an integrated manufacturing unit at Khurda to produce solar power panels, for which it will pump in Rs 36,000 crore and hire around 6,300 people, he said.

Waaree Clean Energy Solutions Private Limited, India's largest solar panel manufacturer, will set up a 1.20 MMTPA green ammonia plant in Jagatsinghpur at an investment of Rs 12,480 crore, providing employment to 3,250 people.

Action Ispat proposed to expand its steel production capacity from 0.37 MTPA to 7.5 MTPA at its Jharsuguda plant, for which it will pump in Rs 21,000 crores, creating job opportunities for another 10,000 people.

OFB Tech Private Limited will set up a manufacturing unit at Dhamra in Bhadrak, investing Rs 1,615 crore, and creating jobs for 1,500 people.

"The state government has been consistently supportive of business leaders investing in the state. With these projects moving forward, Odisha's economy is expected to experience significant growth, solidifying its position as the top choice for investments and industrial development in eastern India," the Industries Department said in a statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)