HLCA meet soon to clear backlog

The High Level Clearance Authority (HLCA), the apex body to clear projects across sectors involving investment beyond Rs 1,000 crore, is expected to meet shortly to reaffirm the state's investor friendly image and fast track execution of major projects.

A string of investments, bulk of them in metals and power sectors, were awaiting the nod of HLCA which has not met since May 4 last year.

“The HLCA is set to meet soon to clear backlog of investment proposals. We have asked the concerned departments to compile reports expeditiously on decisions taken in the previous HLCA meetings,” said an industries department official.

 

As per data compiled by Department of Industrial Policy & Promotion (DIPP) under Union ministry of commerce & industry, Odisha had attracted investments of Rs 13.66 lakh crore till January 2012, beating other states in drawing investors.

Among the mega projects yet to be cleared include Rs 10,000-cr expansion plan of Aditya Aluminium Ltd, a unit of Hindalco Industries Ltd, to ramp up capacity of its aluminium smelter and captive power plant (CPP) proposed at Jharsuguda in western Odisha.

The aluminium company plans to double smelter capacity from 0.36 million tonne per annum (mtpa) to 0.72 mtpa and also scale up CPP capacity from 900 MW to 1,650 MW.

In the steel sector, Bhushan Steel has lined up Rs 1,280 crore investment to execute a couple of new projects in the state. The company intends to set up a 12 mtpa iron ore beneficiation plant at Kumundi in Keonjhar district, four mtpa pellet plant at Jalpaposi in the same district and a slurry pipeline project from Meramandali to Keonjhar.

Similarly, in power sector, Monnet Power Company Ltd, the wholly owned subsidiary of Monnet Ispat & Energy Ltd (MIEL), plans to augment capacity of its 1,050 MW coal-fired power plant in Odisha to 1,710 MW at an additional investment of Rs 3,630 crore.

In its last meeting, the HLCA had cleared nine projects worth Rs 1.36 lakh crore.

Two ambitious Coal-to-Liquid (CTL) projects promoted by Jindal Synfuels Ltd, a subsidiary of Jindal Steel & Power Ltd (JSPL) and Strategic Energy Technology Systems Ltd, a joint venture of Tata Group and South African firm Sasol had got the nod of the HLCA. Both the CTL projects have already been allocated coal blocks by the Government of India.