Odisha Govt Approves Five Investment Proposals Worth of 1851cr

By Business Bureau On Oct 9, 2020

Bhubaneswar: Even as the country is facing economic slowdown amid global pandemic, Odisha has able attract investment in diverse sectors.

Odisha Government today approved five new investment proposals amounting to Rs. 1851.96 crs.

The projects likely to employment potential of 1624 were accorded in principle approval in the state level single window authority committee meeting today held on digital mode under the Chairmanship of Chief Secretary Asit Tripathy from Lokseba Bhawan where in Principal Secretary Industries Hemant Kumar Sharma presented details of the investment proposal for consideration.

While giving in principle nod to the projects, Chief Secretary Tripathy directed IPICOL and other concerned departments to facilitate early grounding of the projects.

Chief Secretary further directed to devise the appropriate mechanism for scientific use of water in slurry pipe lines through recycling.

The projects approved in the meeting were mainly in sectors like Metal & Metal Downstream and Cement sector. These included:

A 2.0 MTPA Pellet and grinding plant initiated by M/s Narbheram Power and Steel Pvt. Limited with an investment of INR 350 crores to be set up in Keonjhar district, with employment opportunities for over 258 persons.

Expansion of M/s Viraj Steel & Energy Pvt. in Sambalpur district from its existing 0.1 MTPA Integrated Steel Plant to a 0.3 MTPA capacity with additional investment of INR 261.71 crores and employment opportunities for over 338 persons.

Proposal of BR Sponge and Power Limited for expansion of its unit at Tumkela in Sundergarh to 0.21 MTPA Sponge Iron, 1 MTPA Iron ore Beneficiation, 0.6 MTPA Pellet, 0.112 MTPA MS Billets, 0.112 MTPATMT, 50 TPH Coal Washery.

Revision of M/s. Nu Vista Limited (Erstwhile Emami Cement) Cement grinding capacity from 1.5 MTPA to 2 MTPA in Kalinga Nagar, Jajpur against an investment of INR 598.62 crores.

Cement grinding unit of 2.5 MTPA capacity initiated by M/s. OCL India Limited (OCL) to be set up in Cuttack district with investment of INR 441.43 crores, which will generate over 141new jobs.