India News | Odisha Govt Approves over Rs 5,358-cr Investment Proposals

Bhubaneswar, Jan 6 (PTI) The Odisha government on Wednesday approved investment proposals worth over Rs 5,358 crore in metal, cement and petrochemical sectors, which would likely to generate employment opportunities for 3,667 people.

A high-level clearance authority, chaired by Chief Minister Naveen Patnaik, gave its in-principle approval to three projects, an official said.

Despite the COVID-19 pandemic, the state has so far attracted investment proposals worth Rs 1.19 lakh crore since February 2020, he said.

The authorities have given its in-principle approval to the expansion of Yazdani Steel and Power Ltd's integrated plant in Kalinganagar from 0.07 mtpa to 1.19 mtpa at an investment of Rs 2,415 crore.

This project has the potential of generating employment for over 2,867 people.

A proposal for additional clinker capacity of 1.32 mtpa and cement capacity of 1.05 mtpa by Shiva Cement Ltd (SCL) got the go-ahead.

The company will invest Rs 1,523.24 crore to set up these two facilities at Telighana and Kutra in Sundargarh district, which will provide employment to over 600 people.

A proposal to develop a crude oil terminal by Numaligarh Refinery Ltd (NRL) at Paradip in Jagatsinghpur with an investment of Rs 1,420 crore received the green signal.

The state-level single window clearance authority, chaired by Chief Secretary SC Mohapatra, has cleared five industrial projects to the tune of Rs 1,085.08 crore in metal and its downstream, fertilisers, food processing and tourism sectors.

These five projects will create 964 employment opportunities in the state, the official added.

(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)