Bhubaneswar, Aug 24: It's pre-election year. The poll mood is gaining momentum steadily across the nation. For some states like Odisha, both Lok Sabha and Assembly elections are round the corner.
In the recent years, when polls are around, the industrial growth in Odisha often gets a lot of mention. The ruling regime reminds people and rival parties about its commitment to develop Odisha through the industrialisation route. The opposition parties of course often disagree with the government's claims and commitments. But that is politics and political debate is a different ball game.
In reality, it's true that in the last two decades, Odisha has managed to accelerate the industrial growth in the state. Despite South Korean steel major Posco Group pulling out from its much-hyped ambitious 12 MTPA (million tonnes per annum) steel project in Jagatsinghpur district and ArcelorMittal withdrawing earlier from its mega project plan, overall Odisha has been successful in setting up several industries in the last few years.
The year 2023 has again triggered new hope for further growth of Odisha's industrial sector. In January this year (a month after the Make in Odisha conclave), the Odisha government approved nine investment proposals worth Rs 1.53 lakh crore, including a proposal of ArcelorMittal Nippon Steel (AMNS) India Ltd to set up a 7 MTPA steel plant in Paradip with an investment of Rs 38,000 crore. There are plans to lay the foundation stone of the project by January 2024, sources said.
It will be the second AMNS India Ltd steel plant as the Odisha government had already given the go-ahead for a 24 MTPA integrated steel plant in the state with an investment of Rs 1.02 lakh crore.
As per sources, the plant to be built by the joint venture between ArcelorMittal SA and Nippon Steel Corp will have an annual production capacity of 7 million tonnes. Also, the plant is expected to churn employment opportunities for more than 11,000 people in the state.
Definitely, the plant when becomes operational will play a major role in boosting Odisha's economy. There may be challenges, bottlenecks and resistances in setting up the mega project (like in almost all major industries anywhere), but once the dream becomes a reality, Odisha is likely to benefit. So it's time for new hope, new dream for further industrial growth in India, feel experts.