Bhubaneswar: The High-Level Clearance Authority (HLCA) of Odisha Government headed by Chief Minister Naveen Patnaik Tuesday approved five major industrial investment proposals worth Rs 1,46,172 crore.
The projects approved are in the sector of metal and metal downstream which will create employment opportunities for over 26,959 persons in the state.
One of the top investment destinations in the country, Odisha has been able to attract investments worth Rs 2.96 lakh crore in Financial Year 2020-21 in spite of the COVID pandemic.
The five projects approved included the Expansion of Bhushan Power and Steel Limited’s integrated steel plant from 5 MMTPA to 15 MMTPA with an investment of Rs 55,000 crore to be set up in Rengali, in Sambalpur district.
The expansion of Tata Steel Limited’s Crude steel production from 3 MTPA to 8 MTPA, Hot rolled coil from 3 MTPA to 7 MTPA, 2.2 MTPA cold-rolled products and 2 MTPA long products against an investment of Rs 47,599 crore to be set up in Kalinga Nagar, Jajpur, was approved.
The HLCA also approved the proposal of Jindal Steel and Power Limited to expand its 6 MTPA existing Integrated steel plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA with an investment of Rs 24,652 crore in Angul.
This investment will take JSPL’s total investment to be Rs. 1,00,670 crore, making it the largest single location steel plant capacity in the world.
Rungta Mines Limited’s proposal to expand its Integrated Steel Plant from the proposed capacity of 2.85 MMTPA to 7.55 MMTPA with an investment of Rs 11,001 crore in Jharbandh, in Dhenkanal district was also cleared.
The expansion of Rungta Mines Limited’s Steel Plant capacity from 0.53 MMTPA to 3 MMTPA against an investment of Rs 7,920 crore was also approved ,The plant will be set up in Karakhendra in Keonjhar district.
With the investment in steel making facilities Odisha will gear up to achieve 100 MT steelmaking capacity by 2030.
The state has been consistently adding steel manufacturing capacity, which has gone up from 2 MT in 2000 to 20 MT in 2020.Several steel and downstream industries are already in various stages of implementation,official sources said.
UNI
