Odisha clears 5 Investment Proposals worth Rs 92,713 crore

The HLCA (High-Level Clearance Authority) led by Chief Minister Naveen Patnaik gave its nod to five mega investment proposals in the state. The five mega investments are worth Rs 92,713cr.

The investment is expected to generate employment opportunities for 31,979 persons. This is the single largest investment approval by the HLCA during the period of current Industrial Policies Resolution (IPR-2015).

In times of COVID-19 pandemic, Chief Minister Patnaik emphasised the importance of accelerating the growth of industries in the state and directed all the concerned agencies to work in a coordinated manner to achieve rapid industrial growth.

These are the five investment proposals-

Jindal Steel and Power Limited

  • The expansion project of an integrated steel plant in Angul from 6 MTPA to 18.6 MTPA
  • 36 MTPA Slurry Pipeline and 12.5 MTPA cement plant
  • Investment – Rs. 76,018 Crore
  • Potential Employment opportunities – 24,350 persons in two phases

Jindal Stainless Limited

  • The expansion project of Stainless Steel capacity from 1.1 MTPA to 3.2 MTPA
  • Cold Rolling Mill capacity from 0.8 MTPA to 2.4 MTPA
  • Investment – Rs. 6,840 crores in Kalinganagar, Jajpur
  • Potential Employment opportunities – 2236 persons

Essar Minmet Limited

  • 14 MTPA Beneficiation & 14 MTPA Pellet Plant and 14 MTPA Slurry pipeline
  • Investment – Rs. 6650 crores to be set up in Keonjhar and Paradip
  • Potential Employment Opportunities – 1468 persons

Arcelor-Mittal Nippon Steel India Limited

  • The expansion project of Beneficiation Plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and Pellet Plant at Paradip from 6 MTPA to 12 MTPA
  • Investment – Rs. 2000 crores
  • Potential Employment Opportunities – 655 persons

Shyam Metalics and Energy Limited

  • The expansion project of steel plant in Pandloi, Sambalpur from 0.77 MTPA to 2.373 MTPA and rolling mill
  • Investment – Rs. 1205 crores
  • Potential Employment Opportunities – 3270 persons

Expressing satisfaction over the flow of investment proposals, the Chief Minister added that the state has earlier approved investments worth Rs.1.17 lakh crore since February 2020 with potential employment for 53,000 persons.

Leave a comment