Odisha Approves Investment Proposals worth over Rs 6400 Crore

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3 Projects of Rs 5358 Crore Cleared by HLCA ; SLSWCA Clears 5 Projects worth over Rs 1000 Crore

Bhubaneswar: Despite GOVID-19 pandemic and economic slowdown, Odisha has continued to attract investment. The state which has attracted investments to the tune of 1.19 lakh crore since February 2020, has approved investment proposals to the tune of Rs. 5358.24 crore on Wednesday.

The 25th High Level Clearance Authority chaired by Chief Minister Naveen Patnaik on Wednesday issued in-principle approval to 3 major industrial projects to the tune of Rs 5358.24 Crore in the Metal & Metal Downstream, Cement and Refinery & Petrochemicals sectors. These three industrial projects are further expected to create 3667 employment opportunities in the state.

The details of the three projects for which in-principle approval was accorded by HLCA are listed below:

●       Expansion of Yazdani Steel & Power Limited’s Integrated Steel Plant from a capacity of 0.07 MTPA to 1.19 MTPA against an investment of INR 2415 crores in Kalinganagar, Jajpur, with potential employment opportunities for over 2867 persons.

●       Additional Clinker capacity of 1.32 MTPA and Cement capacity of 1.05 MTPA by Shiva Cement Limited (SCL) against an investment of Rs 1523.24 Crore to be set up at Telighana, Kutra, Sundergarh, which will generate potential employment opportunities for over 600 persons.

●       Development of Crude Oil Terminal to be set up by Numaligarh Refinery Ltd (NRL) at Paradeep in Jagatsinghpur with an investment of Rs 1420 Crore, which will generate potential employment opportunities for over 200 persons.

Before the HLCA meeting, State Level Single Window Clearance Authority (SLSWCA) chaired by Chief Secretary Suresh Chandra Mahapatra today cleared 5 industrial projects to the tune of Rs 1085.08 Crore in the Metal & Metal Downstream, Fertilizers, Food Processing and Tourism sectors. These five industrial projects are further expected to create 964 employment opportunities in the state.

The details of the five projects for which in-principle approval was accorded by SLSWCA is listed below:

●       A sulphuric acid expansion project unit with an additional annual capacity of 6,60,000 MT by Indian Farmers Fertiliser Cooperative Limited (IFFCO) against an investment of INR 400 crores to be set up at Paradip, Jagatsinghpur, which will generate potential employment opportunities for over 21 persons.

●       0.04 MTPA Ferro Manganese plant/ 0.03 MTPA Silico Manganese, 0.12 MTPA Manganese Beneficiation, 1 MTPA Iron ore Beneficiation and 18 MW CPP plant by Patnaik Minerals Private Limited in Sundergarh at an investment of INR 243 crores, which will generate potential employment opportunities for over 156 persons.

●       A 250 KLPD grain-based distillery unit for manufacturing of Ethanol and Extra-Neutral Alcohol (ENA), and IMFL/IMIL bottling unit along with a 5.50 MW cogeneration power to be set up by Premier Alcobev Private Limited at Bamra in Sambalpur with an investment of INR 275 crores, which will generate potential employment opportunities for over 300 persons.

●       A 116 KLPD grain-based distillery plant (IMFL/ IMIL) (in two phases) and 1 lakh/month bottling plant to be set up by Cuttack Agrivet Pvt Ltd at Mundali in Cuttack against an investment of INR 112.50 crores, which will generate potential employment opportunities for over 367 persons.

●       A 4-Star- Hotel-cum-Resort by S J Developers and Housing Private Limited to be set up in Jasuapur, Pipili in Puri district with an investment of INR 54.58 crores, which will generate potential employment opportunities for over 120 persons.

At the 25th HLCA, Hon’ble Chief Minister congratulated the officials for reviving the industrial growth of the state amid the worldwide economic slowdown.

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