Home ECONOMY Vedanta’s Rs 1,240 cr expansion proposal in Odisha gets officials’ nod

Vedanta’s Rs 1,240 cr expansion proposal in Odisha gets officials’ nod

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Bhubaneswar:  An Odisha government panel on Thursday recommended final approval of Vedanta Ltd’s Rs 1,240 crore proposal to expand the capacity of its aluminium smelter unit in the state’s Jharsuguda from 1.6 to 1.8 million metric tonnes per annum (MMTPA), an official statement said.

The 77th meeting of the State Level Single Window Clearance Authority (SLSWCA), held under the chairmanship of Chief Secretary Aditya Prasad Padhi, recommended the High Level Clearance Authority, headed by Chief Minister Naveen Patnaik, give its approval.

This measure would create additional jobs for 800 people as further bolster Odisha’s position in the global aluminium map, said the statement.

The SLSWCA on Thursday approved four investment proposals worth Rs 1,495 crore which will generate employment opportunities for 1,230 people.

It accorded approval to a food processing company to set up a fruit-based beverage manufacturing unit at an investment of Rs 140 crore.

The unit has been proposed in Khurda district and envisages creation of employment for 150 people, the statement said.

A leading manufacturers of wires and cables used for electricity transmission and distribution has submitted a proposal to set up a greenfield aluminium conductors and cables manufacturing unit at the Angul Aluminium Park with a capacity of 30,000 tonnes per annum.

The investment outlay was Rs 52 crores with employment potential for 180 persons. The proposal was approved at the meeting, it added.

The Aluminium Park at Angul is being developed as an exclusive state-of-the-art industrial park for ancillary and downstream industries for alumina and aluminium.

ITC Limited’s food processing unit coming up at Khurda also received approval to expand its product line. The construction work of the unit is currently in progress.

The expansion of the project would entail an additional investment of Rs 63 crore and create additional employment for 100 people.

Of the 124 investment intents received during the investors’ meets organized in 2016 at Mumbai, Bengaluru and in the Make in Odisha Conclave 2016, the state government has received and approved firm proposals for 76 projects worth Rs 2.02 lakh crore. (IANS)