Latest News | Odisha Approves Investment of Rs 3,205 Crore Amidst Pandemic

Bhubaneswar, Sep 2 (PTI) In a bid to boost industrial activities in the state amidst COVID-19 pandemic, Odisha Wednesday approved investment proposals of Rs. 3,205 crore in different sectors.

Implementation of the proposed investments will generate employment opportunities for 2,494 people in the state, industries secretary Hemant Sharma.

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The investment proposals of Rs 3205.67 crore which got the state governments nod were in metal and metal downstream, infrastructure, tourism and cement sectors, he said.

The proposals were approved at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by chief secretary A K Tripathy.

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Tripathy asked IPICOL (Industrial Promotion and Investment Corporation of Odisha) to provide all facilitating supports to the investors for early grounding of the units.

The seven proposals given in principle approval by SLSWCA included one from MGM Minerals Limited for expansion of its project by setting up 0.125 MTPA sponge iron plant, 0.6 MTPA pellet plant, 0.25 MTPA MS billets, 0.25 MTPA TMT and wire rods and 40 MW captive power plant at Nimdha in Dhenkanal, with an investment of Rs 801.89 crore, Sharma said.

The company has estimated that the project will provide employment to about 1215 people. The proposal of GM Iron and Steel Company Limited for expansion of its project by setting up 0.8 MTPA pellet plant, 0.2379 MTPA DRI plant, 0.195 MTPA billet, 0.24 MTPA wire rod mill, 0.416 MTPA slag cement and 46 MW Captive Power Plant in Dhenkanal, with an investment of Rs. 607.52 crore of capacity also got approval of the SLSWCA. This will provide employment for 592 people, he said.

A proposal of Envirocare Infrasolution Private Limited for setting up iron ore beneficiation plant of 3.6 MTPA capacity at Koira in Sundergarh with a total investment of Rs 60 crore having employment protection of 175 people also got the governments nod.

A proposal of Hindalco Industries Limited for setting up flue gas desulphurization plant (FGD) for its existing CPP (6x150 MW) at Lapanga, Sambalpur, with an investment of Rs 696 crore, will also generate employment opportunities for 50 people.

The proposal of Lifeline Multi-ventures Pvt Ltd. to set up a five-star hotel here with a total investment of Rs. 150.38 crore, will provide jobs opportunities for 240 people, Sharma said.

The SLSWCA also approved the proposal of JSW Cement Limited for expansion of cement grinding capacity from 1.2 MTPA to 2.4 MTPA at Kalinga Nagar in Jajpur at an investment of Rs 489.88 crore and providing employment opportunities for 68 people.

In addition the proposal of Jajpur Cements Private Limited for expansion of cement grinding capacity from 0.5 MTPA to 1.5 MTPA at Kalinga Nagar at an investment of Rs 400 crorel will provide job opportunities for 154 people, he said.

Sharma said the industries department is leaving no stone unturned to ensure world class infrastructure and business environment for the investors in the state.

Odisha looks to strengthen its position, achieve the goals and remain in the position of a leading state in the coming years, with new innovation, infrastructure, dedication, best technology backed by Ease of Doing Business for the investors, he said.

(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)