Odisha govt approves 5 investment proposals worth Rs 922 crore

The Odisha government on Friday approved five investment proposals worth Rs 922 crore envisaging an employment potential for 2,650 people.

The proposals were approved in the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Chief Secretary A K Tripathy.

The proposals approved in the meeting were from sectors like tourism, steel, food processing and IT & ESDM (Information and Technology & Electronics System Design and Manufacturing), officials said.

In the ESDM sector, the committee approved the proposal of a Odisha-based ESDM company for setting up of a manufacturing unit for production of Printed Circuit Boards (PCBs) at EMC park (Infovalley) in Khurda district with a total investment of Rs 96.80 crore and employment potential for about 425 people.

In the food processing sector, the proposal of a state based exporter of sea food products for enhancement of its unit capacity located at Deras Sea Food Park, Khurda with an additional investment of Rs 85.94 crore and employment potential for 580 people, was approved in the meeting.

In the tourism sector, the proposal of a national level company for setting up an amusement park in Khurda district was approved by the SLSWCA. It would provide employment to around 500 people at an investment of Rs 107.10 crore.

In the same sector, approval was also accorded to an Odia entrepreneur for setting up a 4-star hotel at Bhubaneswar with an investment of Rs 59.08 crore, which would provide employment for 167 people.

The approved proposal in the steel sector was from one of existing sponge iron producer of Odisha to expand its 0.05 MTPA Plant to 0.283 MTPA integrated steel plant in Keonjhar district with a total investment of Rs 573.41 crore providing additional employment of 978 people.

While according approval to different proposals, the chief secretary directed concerned departments to provide proactive facilitation to ensure early grounding of projects. The departments of Industries and Water Resources were asked to make water allocation to industrial units in more realistically and qualitatively manner.

The department was asked to withdraw the unused water already allotted to the industries and reallocate those as per the real requirement, he said.

Further, it was decided in the meeting that IDCO (industrial development corporation limited) would allot land for all industrial units approved by district level single window clearance authority of various districts.

For the purpose, the general manager of respective DIC would work as the nodal point for IDCO at the district level.

Odisha being considered as an 'attractive investment destination' in the current fiscal as per reports of the Centre for Monitoring Indian Economy (CMIE), New Delhi, was also discussed in the meeting.

The report said that Odisha received around 18 per cent of the total investment made in different states between April and September of the current fiscal.