Odisha clears five investment proposals worth Rs 1,851 crore
BHUBANESWAR: The state government on Friday approved five investment proposals worth Rs 1851.51 crore in sectors like metal, metal downstream and cement which would generate employment opportunities for 1624 people.
The state level single window clearance authority (SLSWCA) headed by chief secretary Asit Tripathy cleared the investment proposals. The SLSWCA clears project with individual investment potential upto Rs 1,000 crore.
Among the approved projects include proposal of Narbheram Power and Steel Private Limited for a 2 mtpa pellet and grinding plant at Joda in Keonjhar. The company will invest Rs 350 crore to set up the facility and employ over 258 persons, said an official communication.
The chief secretary-led panel also approved an expansion project of Viraj Steel and Energy Pvt Ltd at Gurupali, Lapanga in Sambalpur. The company will expand its capacity from the existing 0.1 mtpa to 0.3 mtpa by investing Rs 261.71 crores. The expansion will generate 338 additional employment opportunities.
The state government also gave go ahead to BR Sponge and Power Limited’s proposal for 0.21 mtpa sponge iron unit, 1 mtpa iron ore beneficiation unit, 0.6 mtpa pellet unit, 0.112 mtpa billet unit, a coal washery and a 24 mw captive power plant at Tumkela in Sundergarh district. The company would invest around Rs 200 crore.
The two proposals in cement sectors include a cement grinding unit of 2.5 mtpa by OCL India Limited at Biswali in Cuttack with an investment of Rs 441.43 crore and a revised proposal of Nu Vista Limited (Erstwhile Emami Cement) for expansion of the cement grinding capacity from 1.5 mtpa to 2 mtpa at Kalinganagar in Jajpur by investing Rs 598.62 crore, said the communication.
With the recent approval of five projects, total investment proposals approved during the Covid-19 pandemic (since March onwards) increased to around Rs 20,000 crore.
“The state government endeavors to improve the industrial ecosystem in the state by ensuring hassle-free industrial investment facilitation for its investors and raising state of the art industrial infrastructure,” said an industry department official.