Odisha govt approves investment proposals worth Rs 392.71 billion

23 Sep 2024 CW Team

The Odisha government has approved investment proposals totalling Rs 392.71 billion, expected to create 17,098 jobs across various sectors. The approvals were granted during a High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi. The meeting cleared 12 key industrial projects spanning sectors such as electronics system design and manufacturing (ESDM), steel, metal downstream, chemicals, cement, green ammonia, and rubber/plastics. These projects will be established in eight districts: Khurdha, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar.

The Chief Minister reiterated the government's commitment to industrial growth, aiming to position Odisha as a premier investment destination in India. Among the approved projects, three proposals from the ESDM sector will be located in Khurdha district, with a combined investment of Rs 63.55 billion and 2,320 new jobs. Notably, Silectric Semiconductor Manufacturing Private Limited and Kaynes Circuits India Private Limited will set up manufacturing units for semiconductors and printed circuit boards.

Other sectors include chemical manufacturing in Jagatsinghpur, with Laxmi Organic Industries Limited and Epigral Limited investing Rs 53.55 billion and creating 1,900 jobs. The metal downstream sector will see Electrosteel Castings, Jindal (India) Limited, and Bhushan Power and Steel investing Rs 121.91 billion in Dhenkanal and Sambalpur, generating 5,570 jobs.

Additional investments include a Rs 25.10 billion steel plant by Shyam Steel in Keonjhar, a cement grinding unit in Cuttack by Ambuja Concrete North Private Limited, and a green ammonia project in Ganjam by Torrent Green Hydrogen Private Limited. These initiatives reflect Odisha’s focus on becoming a business-friendly industrial hub. (ET)

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