+
Odisha govt approves investment proposals worth Rs 392.71 billion
ECONOMY & POLICY

Odisha govt approves investment proposals worth Rs 392.71 billion

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)

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)

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?