Odisha clears two investment proposals worth Rs 224 cr

The Odisha government on Thursday approved two proposals with an investment of Rs 224 crore.

The State Level Single Window Clearance Authority (SLSWCA) met under the chairmanship of Chief Secretary Aditya Prasad Padhi and approved the proposals of Indian Farmers Fertilizer Cooperatives (IFFCO) and Wellspun Odisha Steel Pvt Ltd.

Under its approved project, IFFCO would set up a railway siding at new Paradeep station yard, said state-owned Industrial Promotion and Investment Corporation of Odisha Limited's (Ipicol) General Manager Kalayan Mohanty.

He said the project with an envisaged investment of Rs 63.55 crore would also provide employment to around 97 persons.

It would be completed within 14 months. Around 49 acre of land required for it was identified. IFFCO would also allow other companies to use this siding, said Mohanty.

The other approved project of Welspun Odisha Steel Pvt Ltd would set up 0.27 million tonnes per annum (MTPA) steel facility centre at Dosingha in Bhadrak district. Its investment would be around Rs 160.15 crore, said Mohanty.

The Dosingha facility would provide employment to around 915 persons and would require around 40 acres of land, he added.

The chief secretary also reviewed the progress on investment proposal made during Make in India week in Mumbai and Odisha Investors Meet in Bengaluru recently.

Notably, the Odisha government has attracted about Rs 1.61 lakh crore investment in the past two years.

While 14 companies evinced interest in investing Rs 70,956 crore at Make In India week held in Mumbai in February, the state government has got the assurance of Rs 90,670 crore investment at Invest Odisha meet in Bengaluru.

--IANS

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