Bhubaneswar: The Covid-19 pandemic has left many countries in the lurch and industrialization has hit the bottom with the economies recording negative growth in the last ten months. While developed countries have suffered the most, developing economies also witnessed a down trend in growth of industrialization and economic activities. There are a few exceptions that have defied the trend and still continued to boost industrialization and keep on track the economic activities. Odisha is one such state in India that has shown resistance to the impact of Covid-19 on the economy and continued its growth trajectory in attracting new investments to the state. Chief Minister Naveen Patnaik has been constantly monitoring the industrial environment in the state and has been in touch with potential investment opportunities. Periodical review of investment proposals and resolving the obstacles remains the priority for the government. The proactive steps taken by the government have led to attracting of a record number of investment proposals in the last one year of which a majority have come after the Pandemic hit the country.
Setting Up Of Inter-Ministerial Committee
To accelerate the pace of industrialization and bring back growth in the economy Chief Minister Naveen Patnaik ordered for setting up of an Inter-Ministerial Committee which will look upon various aspects of growth to bring industries and MSMEs back on track.
In this meeting held on the 29th April, Chief Minister Naveen Patnaik announced to set up the inter ministerial committee to look into the issues of bringing industries and MSMEs in the current pandemic situation and recommend appropriate suggestions for bringing them back on track. The Ministers who are members of the High Level Clearance Authority will be the members of the inter-ministerial group. The meeting also cleared six investment proposals totaling Rs 9100.29 crore which will generate employment opportunities for more than 6525 people. The projects included investment proposals of M/s Rungta Mines Limited and M/s Dhunseri Ventures Limited totaling Rs 8850.19 crore.
In July, in a bid to accelerate the economy, the Odisha Government approved four investment proposals worth Rs 2,172.92 crore, which will likely to generate employment for 1,122 people. Projects in metal and metal downstream sector god the nod at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Chief Secretary Asit Kumar Tripathy.
Rungta Mines Limited proposed to set up 34 MTPA beneficiation plant in two phases with an investment of Rs 975 crore, creating employment to about 290 people. It also proposed to set up 20 MTPA underground slurry pipe line with an investment of Rs 951 crore, which would provide employment opportunities for 72 people. Shyam Metalics and Energy Limited would expand its Pellet plant from 0.3 MTPA to 1.2 MTPA capacity with a total investment of Rs 76.92 crore creating additional employment for 610 people. The SLSWCA approved four projects which included the proposal of M/S Niren Kumar Anand, for setting up footwear manufacturing unit of capacity 1 Million pieces with an investment of Rs. 62.44 crore and employing around 620 people. This project is first of its kind in the state and has immense potential for further employment generation.
Odisha Approves Biggest Ever Mega Investment Proposals worth Rs. 92,713 Crore
The proactive business environment of Odisha has attracted a large number of industrial investment proposals even during the difficult times of Covid-19. In November, the 24th High Level Clearance Authority Meeting held under the Chairmanship of Chief Minister Naveen Patnaik approved five mega investment proposals worth Rs.92,713 crore. The proposals will pave the way for significant employment opportunities for people from across all skill levels. Despite COVID-19 pandemic situation and the economic slowdown across the globe, Odisha strengthened its industrial development and investment activities.
The five mega investment proposals worth Rs.92,713 crore were in the metal sector starting from beneficiation to manufacturing of pellets, iron, steel stainless steel, rolled products as well as cement utilizing waste products like slag and fly ash from other industries.
Presiding over the meeting, Chief Minister Patnaik emphasized on the importance of accelerating the growth of industries in the State and directed all agencies of the State Government to work in a coordinated manner to achieve the goals of rapid industrial growth leading to employment generation in the state.
The Chief Minister directed the Chief Secretary to review the progress of these projects and keep him apprised of the progress on regular basis.
Expressing happiness over the flow of investment proposals to the state, the Chief Minister said that the industrial economy of Odisha has quickly revived. He said that the State has approved investments worth Rs.1.17 lakh crore since February 2020 with potential employment for 53 thousand persons. These industrial projects will create significant employment opportunities for people of Odisha across all skill levels, he added.
This is the single largest investment approval by the HLCA during the period of current Industrial Policies Resolution (IPR-2015).
The five projects for which in-principle approval was accorded by HLCA are expansion project of M/s. Jindal Steel and Power Limited’s Integrated steel plant in Angul from 6 MTPA to 18.6 MTPA; 36 MTPA Slurry Pipeline and 12.5 MTPA cement plant with an investment of Rs. 76,018 Crore, and potential employment opportunities for over 24,350 persons in two phases. Expansion project of M/s Jindal Stainless Limited’s Stainless Steel capacity from 1.1 MTPA to 3.2 MTPA and Cold Rolling Mill capacity from 0.8 MTPA to 2.4 MTPA with an investment of Rs. 6,840 crores in Kalinganagar, Jajpur, and potential employment opportunities for over 2236 persons. M/s. Essar Minmet Limited’s 14 MTPA Beneficiation & 14 MTPA Pellet Plant and 14 MTPA Slurry pipeline against an investment of Rs. 6650 crores to be set up in Keonjhar and Paradip, with potential employment opportunities for over 1468 persons. Expansion project of M/s Arcelor Mittal Nippon Steel India Limited’s Beneficiation Plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and Pellet Plant at Paradip from 6 MTPA to 12 MTPA against an investment of Rs. 2000 crores, with potential employment opportunities for over 655 persons. Expansion project of M/s. Shyam Metalics and Energy Limited’s steel plant in Pandloi, Sambalpur from 0.77 MTPA to 2.373 MTPA and rolling mill against an investment of Rs. 1205 crores, with potential employment opportunities for over 3270 persons. These projects are also spread over western, central and coastal Odisha providing employment opportunities across various skill levels.
Again on the 8th of November 2020, Odisha Govt Approved four industrial projects worth Rs 464.72 crore. The State Level Single Window Clearance Authority (SLSWCA), headed by the Chief Secretary Asit Tripathy issued in-principle approval to 4 industrial projects with investments to the tune of Rs 464.72 crore in the Metal and Metal Downstream and Food processing sectors. These four industrial projects are further expected to render 873 employment opportunities in the state.
The Industries Department is leaving no stone unturned to ensure world-class infrastructure and business environment to the investors. The Industries department will continue to extend support for the state and country’s economic growth and perform its duties to the steadfast growth trajectory of Odisha. With measures such as these, Odisha looks to strengthen its position, achieve the goals and remain in the position of a leading state in the coming years, with new innovation, infrastructure, dedication, best technology backed by Ease of Doing Business for the investors.
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