Odisha govt gives nod to 11 investment proposals worth Rs 2,840 crore

Bhubaneswar, May 9 (KNN) The Odisha Government on Monday gave a green light to 11 investment proposals worth Rs 2,840 crore.

The projects were approved in the 117th State Level Single Window Clearance Authority (SLSWCA) meeting under the chairmanship of Odisha Chief Secretary Pradeep Kumar Jena.

As per reports, the projects are spread across diverse sectors like aluminium & aluminium downstream, steel& steel downstream, chemicals& plastics, food processing & packaging, textiles & apparel, tourism and renewable energy.

The approved projects will be set up across various parts of the state including Bolangir, Ganjam, Jagatsinghpur, Khordha, Mayurbhanj, Rayagada, Sambalpur and Sundargarh Districts. 

The Odisha government is expecting to generate employment for over 3721 people in the state.

Key projects approved by the state government include proposal of RCR Steel Works Private Limited, expansion proposal of Utkal Alumina International Ltd and Hindalco Industries Limited.

The SLSWCA also approved a project by Ion Exchange (India) Ltd. With an investment of Rs 303 crores, company proposes to set up a Manufacturing unit of 25000 MT Water Treatment Chemicals & 30000 MT Monomer and Polymers in Paradip, which will provide employment opportunities to over 150 people of Odisha.

In the textiles and apparel sector, Indian Stitches Private Limited is setting up a fabric processing plant in the state.

In the food processing sector, the project proposal of Taj SATs Ltd to set up food processing and packaging units in Khordha was approved. 

Odisha’s industry-friendly policies have positioned the state to be a highly lucrative destination for investors who have been awaiting opportunities to step into Eastern India or expand their footprint in the region.  (KNN Bureau)