Odisha approves investment projects worth Rs 1637.41 cr

·2-min read
Odisha Chief Minister Naveen Patnaik (File photo)
Odisha Chief Minister Naveen Patnaik (File photo)

Bhubaneswar (Odisha) [India], June 12 (ANI): The Odisha government on Friday gave its approval to four industrial projects envisaging investment of around Rs 1,637.41 crores.

The decision was taken at the State Level Single Window Clearance Authority meeting headed by Chief Secretary Suresh Chandra Mahapatra.

As per the State government, the proposals envisage direct employment opportunities for more than 1,116 persons. Besides, the projects will create many more indirect employment opportunities and will enhance economic activities in different parts of the State.

Principal Secretary Industry, Hemant Kumar Sharma stated: "These Proposals are mainly from the sectors like downstream manufacturing, metal, and power sector and it will provide further fillip to the sectors."

These approved projects include, expansion of Tata Steel Limited's iron ore beneficiation plant from 12 MMTPA to 17.6 MMTPA with an investment of Rs 946 crore to be set up in Joda, Keonjhar district with employment opportunities for over 803 persons.

A 50 MW Solar PV Power generation plant by Mahanadi Coalfields Limited against an investment of Rs 254.71 crore to be set up in Boudh, with employment potential for over 36 persons.

Railway Wagon manufacturing plant having capacity of 1,500 Wagon per annum along with 0.394 MMTPA Electric Arc Furnace (EAF), 0.1 MMTPA HR Mill, 0.1 MMTPA CR Mill and 0.5 MMTPA Railway Siding plant by Shyam Metalics and Energy Limited against an investment of Rs 381.60 crores to be set up in Hirakud, Sambalpur district with employment opportunities for over 115 persons.

An oxygen cylinder manufacturing plant with capacity of 10,80,000 cylinders per annum by ShyamMetalics and Energy Limited against an investment of Rs 55.10 crores to be set up in Rengali Industrial Estate, Sambalpur district with potential employment potential for over 162 persons.

Managing Director of IPICOL Nitin Bhanudas Jawale said, "Because of the improved 'ease of doing business' and facilitating promotional policies of the State government, major investors are now considering Odisha as a flourishing destination of investment." (ANI)

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