Odisha Govt approves five investment projects worth Rs381 crore

346
SHARE

Bhubaneswar: The Odisha government on Thursday approved investment proposals of Rs381 crore from five firms including state-run Indian Oil Corporation Ltd (IOCL), Shree Malani Foams Ltd and JSK Industries Ltd.
The proposals, if implemented, will create employment opportunity for 844 people.
The government’s nod to the projects came during 75th meeting of State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Mr. A P Padhi.
The SLSWCA also recommended Vedanta’s proposal for the expansion of its Lanjigarhalumina refinery from 1 million tonnes per annum (MTPA) to 6 MTPA at an investment of Rs6483 crore, which will now require final nod from High Level Clearance Authority chaired by the Chief Minister. This project would generate employment opportunity for 9494 people. The authority also gave its recommendation to increase the capacity of company’s co-generation captive power plant from 90 megawatts (MW) to 340 MW.
Meanwhile, the company has sought 1,645.8 acres of additional private land for project expansion.
The SLSWCA accorded approval to state-run Indian Oil Corporation Ltd’sproposal for setting up LPG bottling plant in Khurda with an investment of Rs 161.59 crore. This unit would provide employment to 79 people.
Shree Malani Foams Pvt. Ltd, a company from the house of Century brand of mattresses, was also given clearance to set up a unit to manufacture 4,500 tonnes per annum of polyurethane (PU) foam and foam products at Khurda. The project will create an employment opportunity for 135 people. This will be company’s second unit in the state as it already produces coir, foam and spring mattresses from its existing unit at Khurdaunder Centuary Fibre Plates Pvt Ltd. The unit went into commercial production on 4 December, 2015.
Additionally, Runaya, a metals start-up founded by the sons of Vedanta Ltd’s Executive ViceChairman Navin Agarwal, got the clearance to set up 30,000 tonnes per annum Aluminium dross refining unit at Jharsuguda with a total investment of Rs 64.43 crore. This project would generate employment for 175 people.
JSK Industries Pvt.Ltd’s proposal to set up 1,07,000 tonnes per annum aluminium wire rod and aluminium conductor unit atAngul Aluminium Park was also cleared by the SLSWCA. The project entails an investment of Rs 50 crore and will create employment for 380 people. A proposal from Western Integrated Waste Management Facility Pvt Ltd, to set up an integrated common hazardouswaste treatment, recycling, storage and disposal facility in Deogarhfor Rs 52 crore was also approval. The project will help create direct and indirect employment for 75 people.
Under the leadership of Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, the state has registered a GSDP growth rate of 7.94 percent in 2016-17 surpassing the national growth rate of 7.1 percent. Odisha has also created a long term roadmap for industrial development named ‘Vision 2025’ with a focus on diversifying the industrial development in the state. Odisha Government has set a target of generating employment for 30 lakh citizens by attracting investments worth Rs 2.5 lakh Crore in the focus sectors that include Ancillary and Downstream in metal sector; Chemicals, Plastics and Petrochemicals; Electronics Manufacturing and IT; Agro & Seafood Processing, Tourism; Textiles and Apparel.
The state government has also launched a single window portal—GO SWIFT—as part of which, more than 35 approvals will be provided online to companies investing in Odisha. The portal will further ensure that all necessary approvals will be granted within a period of 15 to 30 days.

Comments

comments