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Government of Odisha approves five mega investment proposals worth Rs. 92,713 Crores

in Business, State News November 6, 2020 Comments Off on Government of Odisha approves five mega investment proposals worth Rs. 92,713 Crores 798 Views

Bhubaneswar:6/11/20: In a boost to MakeInOdisha, High-Level Clearance Authority under the leadership of  Odisha CM Shri Naveen Patnaik approved 5 mega investment proposals worth ₹92,713 Cr in the metal sector. The projects will give a boost to industrial development and provide employment to more than 31,979 people.

 Projects include expansion of  JINDAL STEEL & POWER LIMITED s Integrated steel plant, slurry pipeline & cement plant in Angul, Jindal Stainless’ plant in Jajpur, Essar Minmet Ltd’s Beneficiation, pellet plant & pipeline project in Keonjhar & Paradip; @AMNSIndia’s Plants in Keonjhar & Paradip.

   Other projects include the expansion of Shyam Metalics’ steel plant and rolling mill in Sambalpur. These are the largest-ever investments approved in Industrial Policy Resolution-2015 which will create employment for people across all skill levels in different parts of the state.CM Naveen Patnaik stressed on accelerating industrial growth & directed all Govt agencies to work in a coordinated manner to achieve goals of rapid industrial growth. CM said Odisha approved investments worth ₹1.17 lakh Cr since February with potential employment for 53,000 people.he 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 against an investment of Rs. 76,018 crores, with potential employment opportunities for over 24,350 persons in two phases.

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·         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 against an investment of Rs. 6,840 crores in Kalinganagar, Jajpur, with 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 ArcelorMittal 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 investment proposals encompass the entire value chain 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.

 The projects are also spread over western, central, and coastal Odisha providing employment opportunities across various skill levels.

 This is the single largest investment approval by the HLCA during the period of the current Industrial Policy Resolution (IPR-2015). 

 Despite the COVID-19 pandemic situation and the economic slowdown across the globe, Odisha strengthens its Industrial development and investment activities. The state has attracted over Rs. 1,18,750 crores worth of new investments with potential employment opportunities for over 53,258 persons since February 2020.

 While chairing the HLCA meeting, Hon’ble Chief Minister reiterated the importance of accelerating the growth of industries in the State and directed all Departments to work in a coordinated manner to achieve the goals of rapid industrial growth leading to employment generation in the state.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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