Odisha has ready-to-use 100,000-acre land bank for industries: Official

South Korean steel giant Posco had suspended its $12-bn steel project in Odisha, citing delays in various regulatory approvals and land hurdles in setting up a 12 MTPA steel plant at Jagatsinghpur

As part of initiatives to help investors set up facilities in the state, the Odisha government has built up a 1 lakh acre land bank, a senior official has said.

Keen on attracting investments in the mineral-rich state, the government has offered various sops and incentives to investors who were showcased advantages of setting up ventures here, Department of Industries, Odisha, Principal Secretary Sanjeev Chopra told PTI in an interview.

"I am sure investors will understand our policies. When investors will come to set up industries, land will be required in huge amount. We don't have any issues related to land and have already created a land bank of 1 lakh acre," he said.

The state has ensured that the land has been given all clearances and is ready-to-use, Chopra said, asserting that projects will not face any delays due to hurdles.

South Korean steel giant Posco had suspended its $12 billion steel project in Odisha, citing delays in various regulatory approvals and land hurdles in setting up a 12 MTPA steel plant at Jagatsinghpur.

Chopra said Odisha has no dearth of land and the government will keep on adding more of it to the bank.

"The government is using policy of engagement not confrontation. It will engage the locals and tell them the purpose for acquiring their land," Chopra said, alleging that a handful of locals with vested interests were creating differences among the villagers and the government.

The government is not only trying to attract domestic investors but is wooing offshore investments too.

A state government delegation led by Industries Minister Niranjan Pujari and Chopra would be soon heading for Japan where they will apprise investors on the state's business-friendly policies.

Last month, the two had met officials of Japanese companies operating in the country at the Embassy of Japan in the national capital and informed them about the mega industrial projects coming up in the state.

The state government had also held meetings with over two dozen downstream companies at Tata Steel plant premises at Kalinganagar in Jajpur district to showcase the business ecosystem, available incentives and infrastructure facilities in the state

More than 70 downstream and ancillary companies had attended a conference on Ancillary and Downstream Opportunities in Aluminium last week in Bhubaneswar.

The government had assured investors of uninterrupted supply of raw materials for their projects.

According to the Odisha government, master planning of National Investment and Manufacturing Zone, Kalinganagar, Dhamra Port- based industrial region and Infovalley has been completed while that of petrochemical investment region at Paradip is underway and will be wrapped up in the next 3-4 months.

Other projects such as plastic park at Paradip, electronics manufacturing cluster at Infovalley and aluminium park in Angul are ready for investments.