Odisha has approved investment proposals of the order of Rs.47,569 crore. The nod was given to 35 proposals spanning a cross section of industries like power, aluminium, steel, cement, food processing, textiles, plastics, healthcare, paper, logistics and LPG bottling. The projects approved promise an employment potential of 11,738 people.
Bahrain-based Midal Cables secured approval for setting up a rod and wire conductor unit with an estimated investment of Rs.350 crore. This unit will be housed within the aluminium park at Angul, jointly developed by National Aluminium Company and Odisha Industrial Infrastructure Development Corporation.
The aluminium downstream space received another proposal from Grid Conductors Ltd, a 100 per cent subsidiary of Power Grid Corporation of India Ltd. The company would invest Rs 127.35 crore on the aluminium conductor unit, also coming up at the Angul aluminium park.
In the power sector, Odisha gave the go-ahead to Mahandai Aban Power Company Ltd to expand capacity of its power plant from 1,030 mw to 1,320 mw. The project cost is pegged at Rs.8,000 crore. The expansion plan of RPG Group controlled CESC Ltd to expand capacity of its proposed project from 1,000 mw to 130 mw also got the nod of the government.
Odisha is also poised to get its first gas-based power plant proposal from JGreen Power Pvt Ltd. The 423 mw LNG based power station has been proposed at Dhamra and is estimated to cost Rs.3,106 crore.
In the steel sector, the state received a flurry of proposals in pellet manufacturing. Iron ore rich Keonjhar district as bagged four new pellet projects with a combined capacity of over 5 million tpa. Overall investment on these plants proposed, exceeds Rs.5,300 crore.
The steel sector has another proposal by Jindal Steel & Power Ltd (JSPL) that has proposed a one mtpa beneficiation plant at Tensa, entailing a cost of Rs 90.60 crore. In another development, JSW Cement and Ramco Cements also submitted proposals for capital investment in the eastern mineral-rich state. JSW Cement is keen on 1.2 million tpa cement grinding unit at Kalinganagar in Jajpur district, with an estimated outlay of Rs.318 crore. Similarly, Ramco Cements Ltd would set up 1.2 million tpa cement unit within the premises of Indian Metals & Ferro Alloys Ltd at Choudwar near Cuttack. The company has committed an investment of Rs.406 crore.