Odisha Gets Proposal For $1 Billion Methanol Synthesis Project

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Bhubaneswar: HIF Global India of Chile is keen to invest around $ 1billion USD in Odisha’s renewable energy.

Deputy Chief Minister, Minister of Agriculture and Farmers Empowerment, Energy Shri Kanak Vardhan Singh Deo attended a presentation on e-fuel production by the multinational firm at Lok Seva Bhavan Conference Hall here.

According to an official release, HIF Global India Company is currently working in the field of methanol synthesis in countries like the United States of America, Chile, Uruguay, Australia. It is keen to invest around $ 1 billion on a methanol synthesis project in Odisha and requested for 50 acre of land, water supply and electricity supply required to establish the plant.

“Odisha is now 100 per cent investment-friendly. We are ready to provide all kinds of facilities as per the government guidelines. We have an investment-friendly single window clearance system. You can also use it,” the Deputy CM said.

If implement, the project is expected to generate more than 250 jobs in the operational phase and more than 500 in the functional phase. “3,50,000 tonnes of e-methanol will be produced annually, and it will help bring down carbon emissions by 95 per cent,” the release further said.

Principal Secretary, Energy Department, Vishal Dev, IPICOL MD Bhupendra Singh Poonia, and senior officials of Tata Power and Power Department attended the meeting, it added.