Chief Minister’s Initiatives Set the Stage for Rapid Industrialization; Odisha Approves Fresh Investments Worth Rs 1.10 Lakh Crore

Business Wire India
  • Our policy and business ecosystem are among the best in the country: Chief Minister of Odisha, Naveen Patnaik
  • 10 proposals approved by the High Level Clearance Authority at Bhubaneswar

The initiative of Chief Minister, Shri Naveen Patnaik to engage with top industry houses during the 3 investors' meets last year coupled with host of business reforms carried out by the government have paved the way for large investments in the State in diversified sectors. The High Level Clearance Authority (HLCA), chaired by the Chief Minister, approved 10 proposals worth more than Rs 1.10 Lakh Crore which will create nearly 46,000 jobs in the State.

Speaking about the ongoing investment proposals received by the state of Odisha, Hon'ble Chief Minister, Shri Naveen Patnaik said "We are extremely pleased to have received firm commitments for more than 50% of the investment intents received during the Investors' Meets held last year at Mumbai, Bengaluru and Bhubaneswar. Our priority now is on-ground implementation of these projects to create additional employment opportunities for our people. Our policy and the business ecosystem are among the best in the country and we shall strive to improve them further".

The projects approved by the HLCA include those by JSW Steel Limited, Paradeep Phosphate Ltd., OCL India Limited, NLC India, National Aluminum Company Ltd. Bhusan Power & Steel Ltd., National Mineral Development Corporation, JSW Infrastructure Ltd. and Smartchem Technologies Ltd.

Following the Make in Odisha Conclave in Bhubaneswar and Odisha Investor's Meets in Mumbai and Bengaluru, the state received investment intent of Rs 3.6 Lakh Crores through a total of 124 projects. The government has already received firm commitment for 71 projects. This is one of the highest and fastest rates of conversion of investment intent into commitment anywhere in the country.

With a large number of industries evincing interest to start operations in Odisha, the state government has decided to focus on rapid on-ground implementation of these projects. An inter-ministerial committee chaired by Minister, Industries is closely monitoring the process. A GIS enabled land bank of 100,000 acres has been created to ensure ready availability. In the next quarter, groundbreaking and inauguration of more than 10 industrial projects are planned in various districts across the state.
 
Abstract of Projects Approved by 17th HLCA
 

Sl.NameSector CapacityLocationAmount  
(Rs in crores)
Employment Potential
1NLC Thermal PowerPower & Renewable Energy
3200 MW
(4 X 800)
Jharsuguda23,569.603,320
2JSW SteelMetal & Minerals10 MTPAParadip50,000.0030,000
3JSW Slurry PipelineMetal & Minerals30 MTPAJoda to Paradip3,700.00350
4NALCO Smelter ExpansionMetal & Minerals0.50 MTPAAngul10,000.005,700
5NALCO Refinery ExpansionMetal & Minerals1.0 MTPADamanjodi4,357.201,462
6Bhushan Power and Steel Limited Metal & Minerals5.50 MTPAJharsuguda4,252.40900
7NMDC Pellet PlantMetal & Minerals2 MTPADhamra1,810.00850
8PPL ExpansionFertilizer, Refinery, Petro-Chemical, Chemical & PlasticsUrea Plant – 3,850 MTPD
DAP Plant  – 1,300 MTPD
Paradip9,459.172,667
9Deepak Fertilizers and Petrochemicals Corporation Ltd.Fertilizer, Refinery, Petro-Chemical, Chemical & PlasticsTechnical Ammonium Nitrate – 3,30,000 MTPAParadip1,750.00440
10OCL Cement Plant ExpansionCement2.25 MTPARajgangpur1,994.98365
Total1,10,893.4046,054

Get The CEO Magazine to your Door Steps; Subscribe Now

Software Suggestion

No stories found.

Best Place to Work

No stories found.

Best Consultants

No stories found.
The CEO Magazine India
www.theceo.in