Odisha government announces new investment proposals worth Rs 9,000 crores

Odisha government, on Monday, approved six business proposals worth Rs 9,000 crores across various sectors including infrastructure, footwear, chemical, etc. Chief Minister Naveen Patnaik claimed that the investments will create around 5,250 jobs.

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New investments in State

The investment proposals were approved at the High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Naveen Patnaik. The ministers who are members of HLCA will be the members of the inter-ministerial group. The members of the committee are: Finance minister Niranjan Pujari, Labour Minister Sushant Singh, Steel and Mines minister Prafulla Mallick, and Minister of State, Industries and MSME, DS Mishra.

The HLCA meeting on Monday was preceded by the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by chief secretary AK Tripathy. The SLSWCA approved four more investment proposals worth Rs 251.09 crore, said Industries secretary Hemant Sharma. "These proposals spread across sectors like metal and metal downstream, textile and apparel and logistics and Infrastructure. They are likely to generate employment for about 1,275 people. This also includes an investment from a Chinese sports shoe manufacturing company," Sharma said.

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CM Patnaik also announced that the state will set up an inter-ministerial committee to look into the issues of industries and MSMEs in the prevailing pandemic situation and recommend appropriate suggestions for bringing them back on track.

The HLCA headed by the chief minister has approved two investment proposals including one from Dhunseri Ventures Limited for setting up of a Maleic Anhydride manufacturing unit with an annual capacity of 60,000MT at Paradeep, with a total investment of Rs 1013.29 crore which will provide employment to 350 people.

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The other proposal was of Rungta Mines Limited (RML) for expansion of its Integrated Steel Plant project from 0.9 MTPA to 2.85 MTPA capacity.

Remaining investments included a proposal in the footwear sector by NirenIn, an approval of Kashvi International (P) Limited to set up an additional 1.2 MTPA Iron Ore Beneficiation Plant, an approval of Purosteel India Pvt. Ltd to set up a manufacturing unit of tubes and pipes PVD coating and approval of Odisha Carriers and Trade for setting up of three logistics park cum fulfilment centres.

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