Four investment proposals worth INR 340 Crore receive Government of Odisha’s nod

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Bhubaneswar: In another step forward towards industrialisation and creation of employment opportunities, the Government of Odisha approved four investment proposals envisaging investment of Rs. 339.27 crore in State Level Single Window Clearance Authority (SLSWCA) meeting held under the Chairmanship of Chief Secretary Sri Aditya Prasad Padhi in secretariat conference hall today afternoon wherein Principal Secretary Industry Sri Sanjeev Chopra outlined the project proposals for consideration. These proposals will createemployment opportunities for 1354 people. Giving in principle approval to the projects Chief Secretary Sri Padhi concerned departments to make a realistic assessment of the requirement of land and water for these industrial units. The departments were further asked to provide proactive and facilitating support for early grounding of the projects. Chief Secretary Sri Padhi further directed the Single Window Authorities to decide on the investment proposals received at their end within the prescribed time limit without fail. The proposals approved in the meeting belong to a variety of industries – downstream industries in metals, logistics and tourism among others.
The SLSWCA accorded approval to two projects in the downstream metals sector. The first proposal was by a Delhi-based company to set up a manufacturing unit for steel tubes and pipes with capacity of 1,80,000 tonnes per annum (TPA) at an investment of INR 130 crore at Kalinganagar Industrial Complex, Jajpur. The plant will create direct and indirect employment for 600 people. The second downstream proposal approved at the meeting belonged to a Jamshedpur-based company which proposed to invest INR 92 crore at Kalinganagar Industrial Complex, Jajpur to set up a manufacturing unit of steel doors and windows with capacity of 1,80,000 annually. The project would create employment for 250 people. This was the 400th proposal received by GO-SWIFT (Government of Odisha – Single Window Portal for Investor Facilitation and Tracking) last month. The approval of both these projects is reflective of rising investor interest to set up downstream units in the metals sector in the State.
The third proposal approved in the meeting was that of a Bhubaneswar-based company which proposed to set up a logistics park in Khurda district. The logistics park will have warehousing facilities, logistics warehousing facilities and a 600 KW rooftop solar power plant. The facility would be utilized for storing FMCG, durable goods, apparel and pharmaceutical products. The project involves investment of INR 66.79 Crore and will create direct and indirect jobs for 362 people.
Investment in Odisha’s tourism sector received a boost with a Berhampur-based real estate company’s proposal to set up a resort at Banthapali village in Berhampur receiving the nod. The resort will include cottages, banquet hall, restaurants, swimming pool and health club. The project would be established at an investment of INR 50.48 crore and will create employment for 142 people.
Further, the Committee recommended the investment projects in downstream aluminium, petrochemical and chemicals of worth Rs. 12600 cr to HLCA for consideration.
With the objective of attracting 2.5 lakh crore of fresh investments and generating 30 lakh job opportunities as part of Hon’ble CM Shri Naveen Patnaik’s Vision – 2025, the Government of Odisha is diversifying and broadening the state’s industrial development across the focus sectors. Odisha’s investor-friendly policies and the development of world-class infrastructure have received very positive feedback from investors across the country as the State has been able to create an ideal business ecosystem for various sectors to flourish in the state. In the last 09 months, we have successfully inaugurated/conducted groundbreaking ceremony for 50 projects worth investment more than INR 17,000 crores. This has the potential to provide employment opportunities for around 21,000 people in the State.
ASSOCHAM has ranked Odisha as the No. 1 state in terms of investment implementation rate and the state is consistently ranked amongst the top 3 States in terms of live manufacturing investments in India. Odisha has registered a GSDP growth rate of 7.94 percent in 2016-17, surpassing the national growth rate of 7.1 percent.

 

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