Odisha Govt Clears Rs 2 Lakh Crore Investment Proposals

Bhubaneswar: The Odisha government on Monday approved a proposal for five investment proposals envisaging an investment of Rs 2,04,069 crore.

A decision to this effect was taken at the 20^th High Level Clearance Authority (HLCA) meeting presided over by Chief Minister Naveen Patnaik at the Kharavela Bhawan Conference Hall.

The meeting approved a proposal for setting up of a hydrocarbon processing complex by the Haldia Petrochemicals Ltd (HPL) comprising a light crude oil refinery, aromatics complex and ethylene cracker complex near the proposed Subarnarekha Port in Balasore district with a total investment of Rs 78,225 crore having an employment opportunity for 10,000 people.

The meeting cleared a proposal by the Indian Oil Corporation Limited (IOCL) for the expansion of its existing refinery unit from 15 MMTPA to 25 MMTPA, and setting up of a petrochemical complex comprising a dual feed cracker, naphtha cracker and petcoke gasification plant at Paradip in Jagatsinghpur district with a total investment of Rs 1,00,300 crore, employing around 12,595 people. The project will ensure the availability of building block feedstock for ancillary and downstream units in the chemical and petrochemical sector.

Besides, another proposal by IOCL to set up 1.2 MMTPA capacity of PX-PTA (Purified Terephthalic Acid complex) with an investment of Rs 9136 crore in its existing refinery with employment opportunity for 3200 people, was also approved in the meeting.

This apart, the meeting also cleared another proposal by Jindal (India) Ltd to set up a cold rolling complex of 0.50 MTPA and steel processing plant at Kalinga Nagar Industrial Complex in Jajpur district with an investment of Rs 1676 crore and employment of 1300 people.

Another proposal by M/s Talcher Fertilizer Ltd to set up a coal-based urea fertilizer complex of 1.99 MMTPA capacity at Talcher in Angul district with an investment of Rs 14,732 crore and an additional employment of around 550 people was also approved.