CM Naveen Patnaik’s initiatives set the stage for rapid industrialization; Odisha approves fresh investments worth Rs 1.10 lakh crore

Bhubaneswar: The initiative of Chief Minister Naveen Patnaik to engage with top industry houses during the 3 investors’ meets last year coupled with host of business reforms carried out by the government have paved the way for large investments in the State in diversified sectors. The High Level Clearance Authority (HLCA), chaired by the Chief Minister, approved 10 proposals worth more than Rs 1.10 Lakh Crore which will create nearly 46,000 jobs in the State.

Speaking about the ongoing investment proposals received by the state of Odisha, Hon’ble Chief Minister, Shri Naveen Patnaik said “We are extremely pleased to have received firm commitments for more than 50% of the investment intents received during the Investors’ Meets held last year at Mumbai, Bengaluru and Bhubaneswar. Our priority now is on-ground implementation of these projects to create additional employment opportunities for our people. Our policy and the business ecosystem are among the best in the country and we shall strive to improve them further”.

The projects approved by the HLCA include those by JSW Steel Limited, Paradeep Phosphate Ltd., OCL India Limited, NLC India, National Aluminum Company Ltd. Bhusan Power & Steel Ltd., National Mineral Development Corporation, JSW Infrastructure Ltd. and Smartchem Technologies Ltd.

Following the Make in Odisha Conclave in Bhubaneswar and Odisha Investor’s Meets in Mumbai and Bengaluru, the state received investment intent of Rs 3.6 Lakh Crores through a total of 124 projects. The government has already received firm commitment for 71 projects. This is one of the highest and fastest rates of conversion of investment intent into commitment anywhere in the country.

With large number of industries evincing interest to start operations in Odisha, the state government has decided to focus on rapid on-ground implementation of these projects. An inter-ministerial committee chaired by Minister, Industries is closely monitoring the process. A GIS enabled land bank of 100,000 acres has been created to ensure ready availability. In the next quarter, groundbreaking and inauguration of more than 10 industrial projects are planned in various districts across the state.
Abstract of Projects Approved by 17^th HLCA