Home Business Times Amid Corona cloud, Odisha clears Rs 9000 cr new investments

Amid Corona cloud, Odisha clears Rs 9000 cr new investments

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Amid Corona cloud, Odisha clears Rs 9000 cr new investments
The Chief Minister of Odisha, Shri Naveen Patnaik calling on the Prime Minister, Shri Narendra Modi, in New Delhi on October 06, 2014.

Source: Google

The fight against the virulent Covid-19 pandemic has not deterred the Odisha government to keep its investment(Amid Corona cloud, Odisha clears Rs 9000 cr new investments) clock ticking.

The High-Level Clearance Authority (HLCA) chaired by Chief Minister Naveen Patnaik(Amid Corona cloud, Odisha clears Rs 9000 cr new investments) and the State Level Single Window Clearance Authority (SLSWCA) helmed by the Chief Secretary together approved fresh investments across sectors valued at around Rs 9000 crore.

The 22nd HLCA meeting today held under the Chairmanship of Chief Minister Naveen Patnaik(Amid Corona cloud, Odisha clears Rs 9000 cr new investments) approved two investment proposals worth Rs 8850.19 crore with an employment potential of 5250 people.

In this meeting, Chief Minister announced to set up an inter-ministerial committee to look into the issues of bringing industries and MSMEs in the current pandemic situation and recommend appropriate suggestions for bringing them back on track.

The Ministers who are members of HLCA will be the members of the inter-ministerial group. The CM(Amid Corona cloud, Odisha clears Rs 9000 cr new investments) announced this at the State HLCA meeting which was convened today.

Finance Minister Niranjan Pujari, Energy Minister Sushant Singh, Steel & Mines Minister Prafulla Mallick, and Minister of State, Industries & MSME, Dibya Shankar Mishra will be the members of this group.

This was preceded by the 91st State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Asit Kumar Tripathy, Chief Secretary, Government of Odisha which approved four more investment proposals worth Rs. 251.09 crore outlined by Hemant Sharma, Principal Secretary, Department of Industries, Odisha government.

These proposals spread across Sectors like Metal & Metal Downstream, Textile & Apparel and Logistics & Infrastructure are likely to generate employment for about 1275 people. This also includes an investment from a Chinese sports shoe manufacturing company.

The HLCA approved two investment proposals which included the proposal of Dhunseri Ventures Limited for setting up Maleic Anhydride manufacturing unit with an annual capacity of 60,000MT at Paradeep, with a total investment of Rs. 1013.29 crore providing employment to 350 people.

In addition, the proposal of M/s Rungta Mines Limited (RML) for setting up an expansion of its Integrated Steel Plant project from 0.9 MTPA to 2.85 MTPA capacity, with Captive Power Plant of 385 MW and 1.69 MTPA Cement Plant (in two phases) at- Jharbandh, Dhenkanal with a total investment of Rs. 7836.90 crore providing employment of about 4900 people has also been approved by HLCA.

In parallel, the SLSWCA gave the go-ahead to four projects– the proposal of Niren Kumar Anand, for setting up a Footwear manufacturing unit of capacity one million pieces with an investment of Rs. 62.44 crore and employing around 620 people. This project is first of its kind in the state and has immense potential for further employment generation.

Kashvi International (P) Limited got the nod to set up an additional 1.2 MTPA Iron Ore Beneficiation Plant to its 0.6 MTPA Iron Ore Pelletization Plant, with an investment of Rs. 55.23 crore and providing employment to about 50 people.

In a big boost to the State’s Metal Downstream sector, the proposal of Purosteel India Pvt Ltd is to set up a manufacturing unit such as tubes & Pipes PVD Coating, furniture fabrication, finished sheets & profiles, trimes plant with an investment of Rs 53.42 crore providing employment opportunities for 200 people.

The proposal of Odisha Carriers and Trade for setting up three logistics Park cum Fulfilment centres, with an investment of Rs 80 crore and it will provide additional employment opportunities for 405 people.

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