Bhubaneswar: The state government Friday approved four investment proposals envisaging investment of Rs 1,637.41 crore and direct employment opportunities for 1,116 persons.
The state-level single window clearance authority (SLSWCA) headed by Chief Secretary SC Mahapatra has accorded in-principle approval to the four industrial projects during a meeting held on virtual mode. The proposals are mainly from the sectors like downstream manufacturing, metal and power sector.
Mahapatra asked the Industrial Promotion & Investment Corporation of Odisha (IPICOL) to conduct realistic assessment of land and water requirement for the projects on the basis of scientific parameters for optimum utilisation of the resources.
He also directed Industries department to encourage the upcoming units for sourcing power from grid instead of setting up separate captive power plants. Sourcing of power from the grid would be economic and environment-friendly, the Chief Secretary said.
The departments concerned were asked to facilitate early grounding of the projects through proactive support.
The government has approved the expansion plan of Tata Steel Limited’s iron ore beneficiation plant at Joda in Keonjhar district from 12 MMTPA (million metric tonne per annum) to 17.6 MMTPA with an investment of Rs 946 crore. The expansion plan is likely to create employment opportunities for 803 persons.
Similarly, the proposal of Mahanadi Coalfields Limited would set up a 50 MW solar PV power generation plant with an investment of Rs 254.71 crore was also approved by the panel. The plant that would be set up in Boudh will provide employment to 36 persons.
Railway wagon manufacturing plant with a capacity of 1,500 wagons per annum by Shyam Metalics and Energy Limited also got the government nod. The plant will be set up at Hirakud in Sambalpur district at an investment of Rs 381.60 crore. It would provide employment opportunities to 115 persons.
The SLSWCA has further approved the proposal of the Shyam Metalics and Energy Limited to set up an oxygen cylinder manufacturing plant of capacity of 10,80,000 cylinders per annum. The firm has committed to invest Rs 55.10 crore at the plan to be set up in Rengali Industrial Estate in Sambalpur. Over 162 persons are likely to be employed in the plant.
IPICOL managing director Nitin Bhanudas Jawale said, “Because of the improved ease of doing business and facilitating promotional policies of state government, major investors are now considering Odisha as a flourishing investment destination.”