L&T plans to invest Rs 85,000 cr in Orissa

Leading engineering company Larsen & Turbo (L&T) has planned to invest about Rs 85,000 crore in Orissa in aluminium, power and steel sectors.

"We have already given proposals to the state government. The company will proceed as soon as the state government clears the proposals," L&T President Sailendra Roy said at the sideline of Assocham's investors meet here.

Stating that the company was planning to set up an aluminium plant in joint venture with Dubai based Dubal, Roy said that an amount of about Rs 30,000 crore would be invested in this project.

Besides, the company was also planning to set up two thermal power stations of 2,000 Mw capacity each. While on such power station will be established at Dhamra in Bhadrak district, the location for another unit is not decided, Roy said.

The other power station would preferable be located at a place within 100 km from the state capital, he said adding that a steel plant proposal was also given to the state government.

The steel plant would be located near Paradip over 600 acre of land, he said.

Besides, Videocon had also proposed to invest Rs 15,500 crore in the state.