The Odisha government has approved investment proposals worth ₹39,271 crore which will generate employment opportunities for 17,098 individuals across various sectors, officials said.
The investment proposals were approved at the High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi on Wednesday (September 18, 2024). The HLCA approved 12 key industrial projects.
The approved projects include electronics system design and manufacturing (ESDM), steel, metal downstream, chemical, cement, green ammonia, and rubber/plastics. These projects will be set up in eight districts – Khurdha, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar.
“This is our first HLCA meeting under the new government… Our government is committed to fostering an environment that supports industrial growth and economic development in Odisha. Our goal is to position Odisha as a premier investment destination in India. Over the next five years, we aim to attract industries in diverse sectors, making Odisha the industrial hub of India,” Chief Minister Mohan Charan Maji said in a statement.
Stating that the State government was implementing various measures to make Odisha one of the most business-friendly States, Mr. Majhi said Odisha prioritise industrialisation and job creation. “The present agenda reflects our commitment to becoming an industrial hub with a substantial total investment of over ₹39,000 crore across diverse sectors, generating over 17,000 job opportunities,” he said.
Three proposals from the Electronics System Design and Manufacturing (ESDM) sector have been approved. Silectric Semiconductor Manufacturing Private Limited received approval for a Silicon Carbide Device manufacturing unit, while Heterogeneous Integration Packaging Solutions Private Limited will establish a manufacturing plant for glass substrates in the form of wafers for semiconductor packaging.
Kaynes Circuits India Private Limited received approval for a manufacturing unit for the production of Printed Circuit Boards (PCBs). All these projects are located in Khurdha district, with a combined investment of ₹6,355.50 crore and will employ 2,320 individuals.
In the chemical sector, Laxmi Organic Industries Limited will set up a synthetic organic chemicals manufacturing unit in Jagatsinghpur, while Epigral Limited will establish a chemical manufacturing unit in the same district. Together, these projects represent an investment of ₹5,355 crore and will provide employment to 1,900 individuals.
In the metal downstream sector, Electrosteel Castings Limited will establish a 500,000 MT ductile iron pipe manufacturing plant in Dhenkanal, while Jindal (India) Limited will set up a steel pipe processing facility in Dhenkanal to produce ERW pipes.
This apart, Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These three approved projects represent a combined investment of ₹12,191 crore and are expected to generate 5,570 jobs.
The steel sector will see investment from Shyam Steel Manufacturing Limited’s 0.5 MTPA integrated steel plant in Keonjhar, with an investment of ₹2,510 crore and is expected to create 3,640 jobs.
The Cement sector will benefit from Ambuja Concrete North Private Limited’s (ACNPL) Cement grinding Unit in Cuttack, with an investment of ₹1,400 crore, projected to employ 410 people. The Green Ammonia sector includes Torrent Green Hydrogen Private Limited’s Green Ammonia project in Ganjam, with a significant investment of ₹10,260 crore, expected to generate 1,558 jobs.
In the rubber/plastics sector, Dalmia Bharat Refractories Limited will set up a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of ₹1,200 crore and potential employment for 1,700 individuals.
Published – September 19, 2024 12:11 pm IST
