Home India Odisha clears 11 investment proposals worth Rs 2,000 crore
Odisha clears 11 investment proposals worth Rs 2,000 crore

Odisha clears 11 investment proposals worth Rs 2,000 crore

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The state level single window clearance committee (SLSWCA) in Odisha on Tuesday cleared 11 investment projects worth Rs 2,000 crore in diverse sectors that are expected to create employment for more than 8,000 people.

The committee led by chief secretary A P Padhi also refereed three more projects worth Rs 22,000 crore to the high level clearance authority (HLCA) led by chief minister Naveen Patnaik as the investment of each project involves more than 1,000 crore, official sources said.

Projects which receive state government’s nod include an apparel park by Texport Industries at Ramdaspur in Cuttack with an investment of Rs 75 crore, a pharmaceutical unit by Bharat Biotech at Andharua near the city (Rs 51 crore) and milk processing unit by Milk Mantra at Gop in Puri (Rs 60 crore). A hotel project by Hotel Banjara also received state government’s nod to set up a hotel in the city with an investment of Rs 63 crore.

The state government also cleared three chemical units by IDL Explosives at Barbil, Talcher and Jharsuguda (Rs 51 crore), Grasim Industries (Rs 110 crore) and Jayashree Chemicals (Rs 100 crore) both at Chhatrapur in Ganjam.

In the mining and metal sectors, two expansion plans by Utkal Alumina’s Kashipur unit in Rayagada involving investment worth Rs 986 crore and Odisha Metalik’s Jhumpura in Keonjhar district (Rs 210 crore) also received nod.

Two renewable energy projects by Hindalco Industries and Sadipali Solar for their units at Lapanga in Sambalpur and Sadipali in Balangir districts were also cleared.

The proposal of the Adventz Group-owned Paradeep Phosphates Limited for expansion of a urea ammonia unit is sent for approval of the HLCA. The Adventz Group plans to invest around 9,000 crore in the project.

Navratna PSU NLC India sought state government’s nod to set up a power plant at Tareikela in Jharsuguda and solar plants in multiple locations. While it would spend Rs 11,785 crore in the power plant, the central PSU promised Rs 2250 crore for setting up of solar plants. The HLCA would also take a call on both the projects.

“By the end of the fiscal, the state is expecting to clear more than 50 per cent of the investment proposals it received during three investors’ meet in Bhubaneswar (December), Bengaluru (August) and Mumbai (February). This is perhaps one of the fastest conversion rates of intents into commitments seen by any state in the country,” said an official statement.

Source:ET
Anand Gupta Editor - EQ Int'l Media Network

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