JSPL, Essel Mining and Sahara Power among investors
Odisha has attracted investment proposals worth Rs 12,750.48 crore during April-November period of this fiscal. The investments have poured in from diverse sectors ranging from steel to cement and power to food processing.
In the steel sector, Jindal Steel & Power Ltd (JSPL) has proposed a pellet plant at Deojhar, Barbil in Keonjhar district at a cost of Rs 985.29 crore. Essel Mining & Industries Ltd, an Aditya Birla Group firm with a significant presence in merchant mining in Odisha, intends to set up a 1.2 million tonne per annum pellet plant at Nuagaon in Sundergarh district at an investment of Rs 379.68 crore.
Proposals for establishment of pellet plants have also come from two more developers- Rourkela-based Altrade Iron & Power Ltd and SGS Metalics Pvt Ltd. While Altrade Iron & Power Ltd has proposed a pellet plant at Baliapur (Bhadrak) involving an investment of Rs 630 crore, SGS Metalics aims to set up a 700 tonne per day (tpd) sponge iron plant, 2000 tonne per annum pellet and beneficiation plant and 32 Mw captive power plant (CPP) at Tapanga and Douli Muhan in Khurda district at a combined cost of Rs 438 crore.
On a smaller scale, Richbirds Drinking Water Pvt Ltd has proposed a steel fabrication unit at Panposh in Sundergarh district at an investment of Rs 53 crore.
In the power sector, Mahanadi Basin Power Ltd, a special purpose vehicle formed by Mahanadi Coalfields Ltd (MCL) wants to put up a 1600 Mw (2x800) pit-head power plant based on super critical technologies at a cost of Rs 8,000 crore. The power project has been proposed at Sardega in Sundergarh district.
Kolkata-based Pro Minerals Pvt Ltd has proposed a 20 Mw CPP at Jhumpur in Keonjhar district at a cost of Rs 110.49 crore.
Among investors in cement sector, Sahara India Power Corporation Ltd has evinced interest to establish a three million tonne per annum (mtpa) cement grinding plant at Titlagarh, the site of its power project in Bolangir district. The project will cost Rs 400 crore.
Similarly, Hyderabad-based Bhavya Cements Ltd has proposed to set up a three mtpa cement grinding unit at Meramundali in Dhenkanal district at an investment of Rs 365 crore. Emami Cement has also proposed a cement grinding unit and 10 Mw CPP at Athgarh in Cuttack district at a cost of Rs 401 crore.
Aluminium sector has seen a couple of investment proposals. Bahrain-based Midal Cables Ltd has submitted a proposal to set up an aluminium conductor and rod manufacturing unit at Angul at an investment of Rs 257.79 crore. The overseas investor is keen to set up this facility at the aluminium downstream and ancillary products park at Angul to be developed jointly by the state's nodal land acquisition agency- Industrial Infrastructure Development Corporation of Odisha (Idco) and navratna firm National Alunminium Company (Nalco).
Metal Powder Company Ltd, a leading manufacturer of non-ferrous metal powders, based in Madurai (Tamil Nadu) is keen to set up an aluminium powder manufacturing unit also at the aluminium park at Angul at an investment of Rs 330.90 crore.
In the food processing sector, leading noodles maker Indo Nissin Foods Ltd wants to set up its unit at Idco's food processing park at Khurda. Indo Nissin will be investing Rs 80.54 crore.
Reserve Bank of India today said it there is no need to explain the monetary policy and it stands by monetary policy statement.
Decision on cutting oil output to be taken at Opec meeting today