Odisha Approves Five Mega Investment Proposals worth Rs. 92,713 Crore, to Create Employment Opportunities for 31,979 Persons

Largest Ever Investment Approved in IPR-2015

Significant Employment Opportunities for People across All Skill Levels – CM

Bhubaneswar: Despite COVID-19 pandemic situation and the economic slowdown across the globe, Odisha strengthens its Industrial development and investment activities.

The 24th High Level Clearance Authority Meeting held under the Chairmanship of Chief Minister Naveen Patnaik today approved 5 Mega Investment Proposals worth Rs.92,713 crores in metal sector starting from beneficiation to manufacturing of pellets, iron, steel stainless steel, rolled products as well as cement utilising waste products like slag and fly ash from other industries.

Presiding over the meeting, Chief Minister Patnaik emphasised 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 details of the five projects for which in-principle approval was accorded by HLCA are listed below:

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.

Among others, Finance Minister Shri Niranjan Pujari, RD,Labour & ESI Minister Shri Susant Singh, Energy Minister for State Captain Dibya Shankar Mishra, Chief Secretary, Development Commissioner, Additional Chief Secretary, Revenue, Principal Secretary Industries, Chairman IDCO and Secretary to CM (5-T) VK Pandian were also present in the meeting.