Bhubaneswar: The Government of Odisha continues to progress as a top investment destination in the country. IPICOL scored the “top performer” position in the Investment Promotion amongst 20 State Investment Promotion Agencies (IPAs) in a survey conducted by the Invest India and the World Bank. The report praised the state government’s efforts in attracting and hand-holding the various industrial projects.
After garnering INR 1,19,214.72 crores worth of new investments since February 2020, the HLCA chaired by Hon’ble CM Shri Naveen Patnaik today issued in-principle approval to 3 major industrial projects to the tune of INR 5358.24 crores in the Metal & Metal Downstream, Cement and Refinery & Petrochemicals sectors. These three industrial projects are further expected to render 3667 employment opportunities in the state.
The details of the five projects for which in-principle approval was accorded by HLCA are listed below:
- Expansion of Yazdani Steel & Power Limited’s Integrated steel plant from 0.07 MTPA to 1.19 MTPA by adding capacities of 0.56 MTPA DRI, SMS 1.12 MTPA (Induction Furnace 0.52 MTPA, 0.60 MTPA Basic Oxigen Furnace), 0.87 MTPA sinter plant, 0.63 MTPA Pig Iron and 112 MW CPP against an investment of INR 2415 crores in Kalinganagar, Jajpur, with potential employment opportunities for over 2867 persons.
- Additional Clinker capacity of 1.32 MTPA and Cement capacity of 1.05 MTPA by Shiva Cement Limited (SCL) against an investment of INR 1523.24 crores to be set up at Telighana, Kutra, Sundergarh, which will generate potential employment opportunities for over 600 persons.
- Development of Crude Oil Terminal to be set up by Numaligarh Refinery Ltd (NRL) at Paradip in Jagatsinghpur with an investment of INR 1420 crores, which will generate potential employment opportunities for over 200 persons.
Before the HLCA meeting, State Level Single Window Clearance Authority (SLSWCA) chaired by Chief Secretary Shri Suresh Chandra Mahapatra today cleared 5 industrial projects to the tune of INR 1085.08 crores in the Metal & Metal Downstream, Fertilizers, Food Processing and Tourism sectors. These five industrial projects are further expected to render 964 employment opportunities in the state.
The details of the five projects for which in-principle approval was accorded by SLSWCA is listed below:
- A sulphuric acid expansion project unit with an additional annual capacity of 6,60,000 MT by Indian Farmers Fertiliser Cooperative Limited (IFFCO) against an investment of INR 400 crores to be set up at Paradip, Jagatsinghpur, which will generate potential employment opportunities for over 21 persons.
- 0.04 MTPA Ferro Manganese plant/ 0.03 MTPA Silico Manganese, 0.12 MTPA Manganese Beneficiation, 1 MTPA Iron ore Beneficiation and 18 MW CPP plant by Patnaik Minerals Private Limited in Sundergarh at an investment of INR 243 crores, which will generate potential employment opportunities for over 367 persons.
- A 250 KLPD grain-based distillery unit for manufacturing of Ethanol and Extra-Neutral Alcohol (ENA), and IMFL/IMIL bottling unit along with a 5.50 MW cogeneration power to be set up by Premier Alcobev Private Limited at Bamra in Sambalpur with an investment of INR 275 crores, which will generate potential employment opportunities for over 300 persons.
- A 116 KLPD grain-based distillery plant (IMFL/ IMIL) (in two phases) and 1 lakh/month bottling plant to be set up by Cuttack Agrivet Pvt Ltd at Mundali in Cuttack against an investment of INR 112.50 crores, which will generate potential employment opportunities for over 156 persons.
- A 4-Star- Hotel-cum-Resort by S J Developers and Housing Private Limited to be set up in Jasuapur, Pipili in Puri district with an investment of INR 54.58 crores, which will generate potential employment opportunities for over 120 persons.
At the 25th HLCA, Hon’ble Chief Minister congratulated the officials for reviving the industrial growth of the state amid the worldwide economic slowdown.
About Odisha:
Located on the east coast of India, Odisha has a coastline of 480 km along the Bay of Bengal. The modern State of Odisha was formed on 1 April 1936 but its history dates to the era of Kalinga mentioned in the Mahabharata. Over the years the state has maintained a unique cultural identity distinct from all of its neighboring States. Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth. The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State.
About IPICOL:
Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State. IPICOL is responsible for devising the investment promotion, facilitation and aftercare strategy for the state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha, undertakes all activities to promote Odisha as the investment destination of choice.
