Bhubaneswar: The High-Level Clearance Authority (HLCA) of Odisha Government, chaired by Chief Minister Naveen Patnaik, on Tuesday approved five major investment proposals to the tune of ₹ 1,46,172 crore in metal and metal downstream sectors.
With HLCA’s approval for an additional steel making facility of 28 MT, Odisha is set to achieve the targeted 100 million tonne steel making capacity by 2030.
The mineral-bearing district of Keonjhar will get a mega steel plant of 3 MT capacity, first big investment in manufacturing in the district.
The HLCA has approved expansion of Rungta Mines Ltd’s Steel Plant capacity from 0.53 MMTPA to 3 MMTPA with an investment of Rs 7,920 crore at Karakhendra in Keonjhar.
These industrial projects are further expected to create 26,959 employment opportunities in the state. The other major proposals cleared are:
- Expansion of Bhushan Power and Steel Ltd’s integrated steel plant from 5 MMTPA to 15 MMTPA with an investment of Rs 55,000 crore at Rengali in Sambalpur.
- Expansion of Rungta Mines Ltd’s Integrated Steel Plant from the proposed capacity of 2.85 MMTPA capacity to 7.55 MMTPA by adding capacity of 4.7 MMTPA with an investment of Rs 11,001 crore at Jharbandh in Dhenkanal.
- 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 INR 47,599 crore to be set up in Kalinga Nagar, Jajpur, which will generate potential employment opportunities for over 4,625 persons.
- Expansion of JSPL’s 6 MTPA existing integrated steel plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA against an investment of Rs 24,652 crore at Angul. It will generate employment opportunities for over 1,000 persons.
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.
On its path to realising the vision of Chief Minister Naveen Patnaik for making Odisha a steel hub by 2030, the state has been able to attract investments to the tune of ₹ 2.96 lakh crore in 2020-21 despite the COVID pandemic.
With today’s additional investments the total investments since last year will be ₹ 4.43 lakh crore.
Several steel and downstream industries are already in various stages of implementation. Today’s approvals will further reinforce Odisha’s position as the top most investment destination in the country.
The meeting was attended by Finance Minister Niranjan Pujari; Steel and Mines Minister Prafulla Kumar Mallick; RD, Labour & ESI Minister Susant Singh and Industries Minister Dibyashankar Mishra. Chief Secretary and other senior officers also attended.
