Govt panel clears investment plans worth Rs 6,443 cr

BHUBANESWAR : The State government on Wednesday cleared three investment proposals worth Rs 5,358.24 crore in metal, cement and petrochemical sectors. The High Level Clearance Authority (HLCA) meeting held under the chairmanship of Chief Minister Naveen Patnaik approved the expansion proposal of Yazdani Steel & Power of its integrated steel plant at Kalinganagar in Jajpur district from 0.07 MTPA to 1.19 MTPA.

The company proposed to invest Rs 2,415 crore in the project with an employment opportunity for 2867 persons. The proposal of Shiva Cement, a subsidiary of JSW Cement, to add clinker capacity of 1.32 MTPA and cement production capacity of 1.05 MTPA with an investment Rs 1,523.24 crore in Sundargarh district got the HLCA nod. The expansion plan will generate employment opportunity for 509 direct and 100 indirect employees.

The crude oil terminal of Numaligarh Refinery Limited (NRL) at Paradip port with an investment of 1,420 crore got the approval of the government panel.  “Odisha continues to be a top investment destination in the country. IPICOL recently bagged the “top performer” position in the Investment Promotion amongst 20 State Investment Promotion Agencies (IPAs) with an overall score of 98 percent in a survey conducted by the Invest India and the World Bank,” the Chief Minister said.

The State Level Single Window Clearance Authority (SLSWCA) chaired by Chief Secretary Suresh Mahapatra cleared five industrial projects worth Rs 1085.08 crore in different sectors. These five projects are expected to create 964 employment opportunities in the State. The authority approved sulphuric acid expansion project unit with an additional annual capacity of 6.60 lakh MT by Indian Farmers Fertiliser Cooperative Limited (IFFCO) against an investment of Rs 400 crores to be set up at Paradip.

The proposal of Patnaik Minerals Private Limited for setting up 0.04 MTPA ferro manganese plant, 0.03 MTPA Silico Manganese, 0.12 MTPA manganese beneficiation, 1 MTPA iron ore beneficiation and 18 MW captive power plant with an investment of Rs 243 crores was also approved.

Two grain-based distillery unit , one by by Premier Alcobev Private Limited at Bamra in Sambalpur district and the other by Agrivet Pvt Ltd at Mundali in Cuttack district with an investment of Rs 275 crore and Rs 112.50 crore respectively were also cleared by the single window authority. A 4-Star hotel-cum-resort project of S J Developers and Housing Private Limited at Jasuapur, Pipili in Puri district with an investment of Rs 54.58 crores was also cleared by the panel.