Odisha govt okays Rs 45K cr investment proposals, promises 36K employment

The Odisha government has approved12 key industrial projects during the 36th High-Level Clearance Authority (HLCA) meeting chaired by Odisha Chief Minister Mohan Charan Majhi. The state govenment sanctioned a total investment of Rs 39,271.50 crore, expected to generate employment opportunities for 17,098 individuals across various sectors, according a press release from CMO.

CM Manjhi had set a target of attracting industrial investments to the tune of Rs 2.5 lakh crores in the coming 5 years. However, in the first 100 days of the new government, 90 per cent of the annual target has been achieved, i.e. investment of Rs. 44,682.92 Cr have already been approved generating employment opportunities for 36,462 persons, including today's proposals and the ones approved in the State Level Single Window Authority meeting held in the month of July, the release said.

The approved projects span a wide range of industries including ESDM, Steel, Metal Downstream, Chemical, Cement, Green Ammonia, and Rubber/Plastics. These projects, strategically located in 8 districts such as Khurdha, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar, are poised to enhance Odisha's manufacturing capabilities and significantly contribute to the state's economic development.

CM Majhi said, "This is our first HLCA meeting under the new government, and I am honoured to lead this significant event. Our government is 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 industries in diverse sector, making Odisha the industrial hub of India. We are implementing various measures to make Odisha one of the most business-friendly states. We prioritize industrialization and job creation, and today's agenda reflects our commitment to becoming an industrial hub with a substantial total investment of over Rs39,000 Crores across diverse sectors, generating over 17,000 job opportunities."

In a major development, three proposals from the ESDM sector have been approved, underscoring the state government's focus on new-age industries. Silectric Semiconductor Manufacturing Pvt. Ltd. received approval for a Silicon Carbide Device manufacturing unit, while Heterogeneous Integration Packaging Solutions Private Limited will establish a manufacturing plant for glass substrates in the form of wafers for semiconductor packaging. Additionally, Kaynes Circuits India Pvt. Ltd. received approval for a manufacturing unit for the production of Printed Circuit Boards (PCBs). All these projects are located in Khurdha, with a combined investment of Rs 6355.50 crore and the potential to employ 2320 individuals, the release added.

In the chemical sector, Laxmi Organic Industries Ltd will set up a synthetic organic chemical 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 5,355.00 crore and will provide employment to 1,900 individuals.

In the metal downstream sector, Electrosteel Castings Limited will establish a 500,000 MT ductile iron pipe manufacturing plant in Dhenkanal, while Jindal (India) Limited will set up a steel pipe processing facility in Dhenkanal to produce ERW pipes.

Additionally, Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These three approved projects represent a combined investment of Rs 12,191.00 crore and are expected to generate 5,570 jobs.

The Steel sector will see investment from Shyam Steel Manufacturing Limited's 0.5 MTPA integrated steel plant in Keonjhar, with an investment of Rs 2,510.00 crore and is expected to create 3,640 jobs.

The cement sector will benefit from Ambuja Concrete North Pvt. Ltd.'s (ACNPL)'s cement grinding Unit in Cuttack, with an investment of Rs 1,400.00 crore, projected to employ 410 people.

The Green Ammonia sector includes Torrent Green Hydrogen Private Limited's Green Ammonia project in Ganjam, with a significant investment of Rs 10,260.00 crore, expected to generate 1,558 jobs.

Finally, in the Rubber/Plastics sector, Dalmia Bharat Refractories Limited will set up a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of Rs 1,200.00 crore and potential employment for 1,700 individuals, the release added.

The Government of Odisha continues to support and invite business leaders to invest in the state. With these projects moving forward, Odisha's economy is expected to grow significantly, making it a top choice for investments and industrial growth in Eastern India.