Odisha govt approves investment proposals worth Rs 1,753.82 crore

November 18
01:29 2019

The Odisha government has approved six investment proposals worth Rs 1,753.82 crore in different sectors, which would create employment opportunities to 5,566 people, official sources said.

The six projects in textile, food processing, plastics, tourism, steel and downstream sectors were approved on November 16 at the State Level Single Window Clearance Authority (SLSWCA) meeting, chaired by Chief Secretary A K Tripathy.

According to industries secretary Hemant Sharma, the proposal of Indian Metals and Ferro Alloys Limited (IMFA) was approved for setting up a ferro chrome unit and 10 MW WHRB (waste heat recovery boilers) power plant at Kalinga Nagar, Jajpur with a total investment of Rs 547.19 crore.

This project would create employment opportunities for 900 people, he said.

Another proposal in the metal sector by Shri Jagannath Steel and Power Limited for expansion of its existing 0.1 MTPA integrated steel plant in Keonjhar district to 0.3 MTPA capacity with a total investment of Rs 835.34 crore, was given green signal.

This will provide additional employment to 501 people, the official said.

The authority also cleared the proposal of Page Industries Limited to set up a garment manufacturing unit at Khurda with a total investment of Rs 257.50 crore and it will provide employment to about 3,500 people, he said.

Another proposal of Jay Bharat Spices Private Limited for diversification of its production and cold storage facilities at Ramdaspur in Cuttack with additional investment of Rs 50.10 crore got the nod of the government, Sharma said adding that the project will create additional employment to 550 people.

The proposal of Shree Malani Foams Private Limited, which manufactures “Century” brand mattress, was also approved by the SLSWCA for additional investment of Rs 10 crore.

The company proposed to set up a unit having 5,00 TPA capacity at Khurda.

In the tourism sector, the proposal of Deo Residency and Resorts Private Limited for expansion of its existing hotel at Baragadia, Kalinga Nagar in Jajpur district, with an investment of Rs 53.69 crore, was also approved, the official added.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

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