Odisha govt approves 12 projects worth over Rs 2,794 cr

Odisha

Last Updated October 31, 2023

Odisha

Bhubaneswar, Oct 31: Odisha government today approved the 12 transformative projects worth over Rs 2,794 crores further solidifying the state’s position as a preferred investment destination.

Under the guidance of Chief Secretary Pradeep Kumar Jena, the approval was given in the 123rd meeting of the State Level Single Window Clearance Authority (SLSWCA) which was convened today.

The 123rd SLSWCA meeting showcased the State’s commitment to diversifying its industrial landscape across multiple sectors. Significant endorsements were made in these semiconductor and ESDM sector, further strengthening Odisha’s manufacturing capabilities. The Aluminium industry received a boost, emphasizing the State’s focus on modern manufacturing and sustainable materials. The steel sector, both downstream and primary, witnessed a surge in approvals, highlighting the region’s rich mineral resources and metallurgical expertise. Gemstone sector emerged as a priority, reflecting Odisha’s commitment to diamond and jewellery production. The food, beverage and allied sectors saw advancements, tapping into the State’s food processing potential. Tourism sector’s growth was championed to leverage Odisha’s cultural and natural attractions. These sectors spanned across 7 districts indicating a widespread industrial development strategy.

These projects, with a combined investment of INR 2,794.47Crores, are set to generate employment for approximately 4,715 individuals, reflecting the State’s unwavering commitment to job creation and sustainable development.

In the semiconductor and ESDM sector, RIR Power Electronics Ltd committed to Invest INR 510.80 Crores in the establishment of manufacturing fabrication and packaging facility for silico carbide devices and SIC modules on Semi-Conductor and ESDM Sector. Consequently, generating employment for 206 individuals in Khordha, InfoValley.

Nuvo Aeon Diamond and Jewellery Manufacturing LLP is poised to revolutionize the gemstone sector with its state-of-the-art lab-grown diamond and jewellery manufacturing facility in Khordha. With an investment of INR 256.50 Crores, this pioneering venture will not only generate employment opportunities for 300 individuals but also serve as the first-of-its-kind manufacturing facility. Furthermore, it is expected to stimulate the growth of ancillary and downstream industries within the gems and jewellery sector.

The steel sector has experienced significant growth due to investment from several companies including Four Star Metaliks Pvt Ltd, KhedariaIspat Ltd, New Laxmi Steel and Power Pvt Ltd and Abhirav Industries Pvt Ltd. Collectively, these companies have invested near about INR 900 Crores in regions such as Jajpur and Sundargarh. Through these investment in ancillary and downstream sectors the state will generate employment for more than 1696 people.

In Fertilizer sector, the Utkal Phosphates Pvt Ltd is investing 62.07 Crores on establishing a manufacturing unit of Single Super Phosphate (SSP) and Granulated Single Super Phosphate (GSSP) fertilizer unit with annual capacity of 1,20,000 MT in Jagatsinghpur.

Hindalco Industries Ltd is gearing up to invest INR 834.00 Crores in the aluminium downstream sector, specifically for the establishment of an Aluminum Battery Foil manufacturing facility in Sambalpur. This significant investment is expected to create job opportunities for 1,038 individuals. It will not only energize the investment landscape but also make the state more appealing to companies involved in electric vehicle (EV) battery manufacturing, encouraging them to establish their units in the region.

Narayani Green Pack is setting up a corrugated paper and paper board containers manufacturing facility for Nestle in Khordha with an investment of INR 50.84 Crores and an employment potential of 120.

In the Food, Beverage and Allied sector M/s Maa Tarini Roller Flour Mills LLP slated to Invest 58.30 Crores on fully automated flour mill in Khordha while Milk Mantra dairy is investing Pvt Ltd 51.10 Crores on establishing a manufacturing unit for diary product in Puri. The combined employment generation potential is around 1135.

Odisha tourism sector is set to shine brighter with Mayfair Hotels and Resorts Ltd Investment of INR 73 Crores and an employment potential of 150 in Jharsuguda. These projects spanning across diverse sectors from Semi-conductor to Tourism underscores Odisha’s Multifaced growth strategy and steps towards industrial revolution.

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