Odisha approves investment proposals worth Rs 39,271 cr

24 Sep 2024 CW Team

These approved projects encompass electronics system design and manufacturing (ESDM), steel, metal downstream, chemicals, cement, green ammonia, and rubber/plastics. They will be established across eight districts: Khurda, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar.

"This is our first HLCA meeting under the new government. We are committed to fostering an environment that supports industrial growth and economic development in Odisha. Our goal is to position Odisha as a premier investment destination in India. Over the next five years, we aim to attract diverse industries, making Odisha the industrial hub of India," stated Chief Minister Mohan Charan Majhi.

The Chief Minister emphasized the government's dedication to making Odisha one of the most business-friendly states, prioritizing industrialization and job creation. "The present agenda reflects our commitment to becoming an industrial hub with over Rs.39,000 crore in investments across various sectors, generating over 17,000 job opportunities," he added.

In the ESDM sector, three proposals have been approved: Silectric Semiconductor Manufacturing Private Limited for a Silicon Carbide Device manufacturing unit, Heterogeneous Integration Packaging Solutions Private Limited for a manufacturing plant for glass substrates used in semiconductor packaging, and Kaynes Circuits India Private Limited for a Printed Circuit Boards (PCBs) manufacturing unit. All these projects are located in Khurda district, with a combined investment of Rs 6,355.50 crore, creating 2,320 jobs.

In the chemicals sector, Laxmi Organic Industries Limited plans to set up a synthetic organic chemicals manufacturing unit in Jagatsinghpur, while Epigral Limited will establish a chemical manufacturing unit in the same district. Together, these projects represent an investment of Rs. 5,355 crore and will provide employment to 1,900 individuals.

In the metal downstream sector, Electrosteel Castings Limited will build a 500,000 MT ductile iron pipe manufacturing plant in Dhenkanal, and Jindal (India) Limited will set up a steel pipe processing facility in the same area. Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These projects will collectively invest Rs.12,191 crore and generate approximately 5,570 jobs.

The steel sector will benefit from Shyam Steel Manufacturing Limited's 0.5 MTPA integrated steel plant in Keonjhar, with an investment of Rs.2,510 crore expected to create 3,640 jobs. The cement sector will see investment from Ambuja Concrete North Private Limited's cement grinding unit in Cuttack, projected at ?1,400 crore and anticipated to employ 410 people.

The green ammonia sector will include Torrent Green Hydrogen Private Limited's project in Ganjam, which involves a significant investment of Rs.10,260 crore and is expected to generate 1,558 jobs. In the rubber/plastics sector, Dalmia Bharat Refractories Limited plans to establish a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of Rs.1,200 crore, potentially creating 1,700 jobs.

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The Odisha government has approved investment proposals totaling Rs 39,271 crore, expected to create employment opportunities for 17,098 individuals across various sectors, officials announced. The proposals were greenlit during a High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi on Wednesday, which approved 12 key industrial projects. These approved projects encompass electronics system design and manufacturing (ESDM), steel, metal downstream, chemicals, cement, green ammonia, and rubber/plastics. They will be established across eight districts: Khurda, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar. This is our first HLCA meeting under the new government. We are committed to fostering an environment that supports industrial growth and economic development in Odisha. Our goal is to position Odisha as a premier investment destination in India. Over the next five years, we aim to attract diverse industries, making Odisha the industrial hub of India, stated Chief Minister Mohan Charan Majhi. The Chief Minister emphasized the government's dedication to making Odisha one of the most business-friendly states, prioritizing industrialization and job creation. The present agenda reflects our commitment to becoming an industrial hub with over Rs.39,000 crore in investments across various sectors, generating over 17,000 job opportunities, he added. In the ESDM sector, three proposals have been approved: Silectric Semiconductor Manufacturing Private Limited for a Silicon Carbide Device manufacturing unit, Heterogeneous Integration Packaging Solutions Private Limited for a manufacturing plant for glass substrates used in semiconductor packaging, and Kaynes Circuits India Private Limited for a Printed Circuit Boards (PCBs) manufacturing unit. All these projects are located in Khurda district, with a combined investment of Rs 6,355.50 crore, creating 2,320 jobs. In the chemicals sector, Laxmi Organic Industries Limited plans to set up a synthetic organic chemicals manufacturing unit in Jagatsinghpur, while Epigral Limited will establish a chemical manufacturing unit in the same district. Together, these projects represent an investment of Rs. 5,355 crore and will provide employment to 1,900 individuals. In the metal downstream sector, Electrosteel Castings Limited will build a 500,000 MT ductile iron pipe manufacturing plant in Dhenkanal, and Jindal (India) Limited will set up a steel pipe processing facility in the same area. Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These projects will collectively invest Rs.12,191 crore and generate approximately 5,570 jobs. The steel sector will benefit from Shyam Steel Manufacturing Limited's 0.5 MTPA integrated steel plant in Keonjhar, with an investment of Rs.2,510 crore expected to create 3,640 jobs. The cement sector will see investment from Ambuja Concrete North Private Limited's cement grinding unit in Cuttack, projected at ?1,400 crore and anticipated to employ 410 people. The green ammonia sector will include Torrent Green Hydrogen Private Limited's project in Ganjam, which involves a significant investment of Rs.10,260 crore and is expected to generate 1,558 jobs. In the rubber/plastics sector, Dalmia Bharat Refractories Limited plans to establish a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of Rs.1,200 crore, potentially creating 1,700 jobs.

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