State govt approves investments worth Rs 1,770 cr in Odisha

Odisha government on Saturday approved an investment of Rs 1,770.43 crore in nine different sectors which will create employment for 3,204 people, official sources said.

At least 10 investment proposals from different companies were placed at the state-level single window clearance authority (SLWCA) meeting presided over by Chief Secretary A P Padhi.

Though the SLWCA accorded approval to the nine proposals in food processing, plastics, renewable energy and steel sectors worth Rs 1,777.43 crore, the NTPC's proposal for expansion of its thermal power plant capacity of Talcher Thermal Power Station worth investment of Rs 7698.46 crore was referred to the high-level clearance authority (HLCA) headed by the chief minister.

The approved projects have a potential of creating 3,200 additional jobs in the state. The major proposals which got SLWCA's nod included Rs 737 crore investment by Ultratech Cement Limited, Rs 241 crore investment by Sakura Premier Solar Private Limited.

The other investors were: Coastal Corporation Limited (food processing, Rs 51 crore), Balasore Alloys Limited (steel, Rs 232.40 crore), Indo Nissin Foods Private Ltd (Food processing, Rs 50.44 crore), Oricon Enterprises Ltd (plastic for food processing, Rs 120 crore), Jyoti Solar Solutions Private Limited (renewable energy, Rs 57.17 crore), Topaz Solar Pvt. LTD (Renewable Energy, Rs 220 crore) and Jay Bharat Species Pvt Ltd (food processing, Rs 61.42 crore).

Of the nine proposals approved in today's SLWCA meeting, four were in the food processing and allied sectors. Indo Nissin Foods Private Limited, promoted by Japan-based Nissin Food Holdings and Mitsubishi Corporation, has proposed to invest another Rs 50 crore that will be used to expand its manufacturing facility at Khurda.

The state has already promulgated in new Odisha Food Processing Policy 2016, which provides competitive incentives and facilitating a framework for investment in the sector.

Food Processing has been identified as one of the six focus sectors by the government and the state expects to attract Rs 19,800 crore of investment in the sector as per the vision 2025 for industrial development.

"At least 54 projects with an investment of Rs 1,11, 500 crore and employment potential of more than 75,700 jobs have been approved by the SLSWCA since the Make In Odisha Conclave held in December 2016," an official said.