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Odisha attracts Rs 5,000cr investment from private sector

Press Trust of India  |  Bhubaneswar 

today received investment commitments worth Rs 5,000 crore from the private sector during an ongoing business summit here, a top official said today. The three-day event 'Make in Conclave' was inaugurated by Chief Minister yesterday. "To attract investors, we are providing a number of incentives, including 20 per cent capital investment subsidy for an investment of Rs 50 crore or above, 5 per cent additional subsidy for women, SC/ST and physically challenged entrepreneurs. "Today we attracted Rs 5,000-crore investment from the private sector," Tourism Principal Secretary G K Dhal told reporters here. He maintained private players will be important contributors to the tourism sector of the state. The state has attracted investment from the hospitality sector, including Haldiram Group, Natraj Group and Marigold Hotels Platinum International, among others, for 7-8 projects. Further, Dhal said there is an investment interest worth Rs 3,000 crore for investing in a film city in the state by ADA Group from Mumbai. Odisha, which currently has 1,200 five-star luxury rooms, is planning to add another 1,000 in the category, during the current fiscal. "We have 1,200 luxury rooms, each room costing about Rs 1 crore, in the five-star category.

We are planning to add another 1,000 by the end of this financial year," Dhal said. Further, Dhal said the Tourism Dpartment has signed an agreement with OYO Rooms, a hotel aggregator, to sell Orissa Tourism Development Corporation (OTDC) rooms. Noting that the state has several investment opportunities, Dhal said he is confident about attracting much more investments from the private sector going forward.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 21:07 IST