Home ECONOMY Odisha clears 10 investment proposals worth Rs 1.10 lakh crore

Odisha clears 10 investment proposals worth Rs 1.10 lakh crore

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Odisha Sun Times Bureau
Bhubaneswar, Jun 2:

Odisha government today cleared 10 projects with an investment of Rs 1, 10, 893.40 crore.

The High Level Clearance Authority (HLCA) chaired by Chief Minister Naveen Patnaik approved proposals in power and renewable energy, metal and minerals, fertilizer, refinery, petrochemical, chemical and plastics and cement sectors at state secretariat here.

The projects have a potential of creating over 46, 000 additional jobs in the state.

“We are extremely pleased to have received firm commitments for more than 50% of the investment intents received during the Investor’s Meets held last year at Mumbai, Bengaluru and Bhubaneswar. Our priority now is on-ground implementation of these projects to create additional employment opportunities for our people. Our policy and the business ecosystem are among the best in the country and we shall strive to improve them further,” Chief Minister Naveen Patnaik said on the occasion.

While Jindal South West Steel’s 10 MTPA project worth Rs 50,000 crore investment would generate 30,000 jobs, NLC Thermal Power at Jharsuguda would be set up at an investment of Rs 23,569.60 crore. The thermal power unit would create 3320 jobs.

Worth mentioning, the JSW Steel would be set up in Paradip and the land acquired for POSCO would be given to the steel unit.

The other investments in metal and minerals sector are: JSW Slurry Pipeline (Rs 3700 crore), NALCO Smelter expansion at Angul (Rs 10,000 crore), NALCO Refinery expansion at Damanjodi (Rs 4357 crore), Bhusan Power and Steel Limited (Rs 4252.40 crore) and NMDC Pallet plant at Dhamra (1810 crore).

Similarly, the investment proposals which got approved in fertilizer, refinery, petrochemical, chemical and plastics sector are: PPL expansion at Paradip (Rs 9,459.17 crore) and Deepak Fertilizer and Petrochemicals Corporation Ltd at Paradip (Rs 1750 crore).

The only cement plant proposal which got approved is OCL cement plant expansion at Rajgangpur (Rs 1994. 98 crore).