Odisha approves 5 major industrial projects of Rs 1.46 lakh crore, steel-making capacity to be doubled

·3-min read
Representative image.
Representative image.

Bhubaneswar (Odisha) [India], July 6 (ANI): In a major success of Odisha Chief Minister Naveen Patnaik's 'Vision 2030' of making Odisha 'Steel Hub of India', the state's High-Level Clearance Authority on Tuesday issued in-principle approval to five major industrial projects to the tune of Rs 1,46,172 crores in metal and metal downstream sectors.

The existing steel-making capacity in Odisha is about 30 MT. HLCA's decision will lead to the addition of capacity of making 27.5 MT more steel and will almost double the installed capacity in the state over the next few years.

Odisha has been able to attract investments worth Rs 2.96 lakh crore in 2020-21 despite the COVID pandemic and has become one of the top investment destinations in the country.

The five industrial projects are expected to create 26,959 employment opportunities in the state.

The decisions were taken at the 26th High-Level Clearance Authority meeting chaired by the Chief Minister.

With the additional steel-making facilities, Odisha will have capacity to produce 100 MT steel by 2030.

HLCA gave in-principle approval to expansion of Bhushan Power and Steel Limited's integrated steel plant from 5 MMTPA to 15 MMTPA against an investment of Rs 55,000 crore to be set up in Rengali in Sambalpur district. It will generate potential employment opportunities for over 10,000 persons.

HCLA gave in-principle approval to expansion of Tata Steel Limited's Crude steel production from 3 MTPA to 8 MTPA, hot-rolled coil from 3 MTPA to 7 MTPA, 2.2 MTPA cold-rolled products and 2 MTPA long products against an investment of Rs 47,599 crore to be set up in Kalinga Nagar, Jajpur, which will generate potential employment opportunities for over 4,625 persons.

The panel gave in-principle nod to the expansion of Jindal Steel and Power Limited's 6 MTPA existing Integrated steel plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA against an investment of Rs 24,652 crore to be set up in Angul, which will generate potential employment opportunities for over 1,000 persons. This investment will take JSPL's total investment to be Rs 1,00,670 crore, making it the largest single location steel plant capacity in the world.

Expansion of Rungta Mines Limited's Integrated Steel Plant from the proposed capacity of 2.85 MMTPA capacity to 7.55 MMTPA by adding capacity of 4.7 MMTPA was also given in-principle approval. It entails an investment of Rs 11,001 crore to be set up in Jharbandh in Dhenkanal district and will generate potential employment opportunities for over 6,200 persons.

The high-level panel also gave in-principle nod to expansion of Rungta Mines Limited's Steel Plant capacity from 0.53 MMTPA to 3 MMTPA against an investment of Rs 7,920 crore to be set up in Karakhendra, Keonjhar, which will generate potential employment opportunities for over 5,134 persons.

An official release said Odisha has been consistently adding steel manufacturing capacity, which has gone up from 2 MT in 2000 to 20 MT in 2020.

Several steel and downstream industries are already in various stages of implementation.

"The approvals granted today are from leading and reputed investors in the metal sector of the country and will further reinforce Odisha's position as the topmost investment destination in the country," the release said. (ANI)

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