Odisha Approves Rs 92713 Cr Investment Proposals; Here’s Details Of 5 Projects

Bhubaneswar: The Odisha government has approved 5 mega investment proposals worth Rs. 92,713 crore in the metal sector.

According to an official release, this is the single largest investment approval by the HLCA during the period of current Industrial Policies Resolution (IPR-2015). It involves beneficiation to manufacturing of pellets, iron, steel stainless steel, rolled products as well as cement utilising waste products like slag and fly ash from other industries along with employment opportunities for 31,979 people across all skill levels.

This is being seen as an attempt by the government to strengthen its industrial development and investment activities amid the economic slowdown across the globe due to COVID-19 pandemic.

Presiding over the meeting, Chief Minister Naveen Patnaik emphasised on the need to accelerate the growth of industries, leading to employment generation in the state.

He said that the state has approved investments worth Rs.1.17 lakh crore since February 2020 with potential employment for 53,000 people.

These industrial projects will create significant employment opportunities for people of Odisha across all skill levels, he added.

THE FIVE PROJECTS

1. Expansion project of M/s. Jindal Steel and Power Limited’s Integrated steel plant in Angul from 6 MTPA to 18.6 MTPA; 36 MTPA Slurry Pipeline and 12.5 MTPA cement plant with an investment of Rs. 76,018 Crore, and potential employment opportunities for over 24,350 persons in two phases.

2. Expansion project of M/s Jindal Stainless Limited’s Stainless Steel capacity from 1.1 MTPA to 3.2 MTPA and Cold Rolling Mill capacity from 0.8 MTPA to 2.4 MTPA with an investment of Rs. 6,840 crores in Kalinganagar, Jajpur, and potential employment opportunities for over 2236 persons.

3. M/s. Essar Minmet Limited’s 14 MTPA Beneficiation & 14 MTPA Pellet Plant and 14 MTPA Slurry pipeline against an investment of Rs. 6650 crores to be set up in Keonjhar and Paradip, with potential employment opportunities for over 1468 persons.

4. Expansion project of M/s Arcelor Mittal Nippon Steel India Limited’s Beneficiation Plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and Pellet Plant at Paradip from 6 MTPA to 12 MTPA against an investment of Rs. 2000 crores, with potential employment opportunities for over 655 persons.

5. Expansion project of M/s. Shyam Metalics and Energy Limited’s steel plant in Pandloi, Sambalpur from 0.77 MTPA to 2.373 MTPA and rolling mill against an investment of Rs. 1205 crores, with potential employment opportunities for over 3270 persons.

These projects are also spread over western, central and coastal Odisha.