Odisha govt approves investment projects worth Rs 1.36 trn across sectors

The Odisha government on Thursday approved 20 investment projects worth Rs 1.36 lakh crore, an official statement said.

The High-Level Clearance Authority (HLCA) headed by Chief Minister Mohan Charan Majhi has approved the projects, poised to generate employment for over 74,350 individuals and significantly bolster the state's economic growth, it said.

The approved projects span nine sectors including steel, chemicals, aluminium, aviation fuel, green energy and equipment, apparel and textiles, power and renewable energy and cement.

These projects will be set up in 10 districts of Odisha such as Jajpur, Jharsuguda, Khurda, Sambalpur, Ganjam, Kalahandi, Malkangiri, Dhenkanal, Bhadrak and Jagatsinghpur, it said.

"Through strong cooperation between the state and central governments, we have fostered a business-friendly environment that attracts investors to Odisha. Our focus is on creating an ecosystem that promotes inclusive growth, sustainability, and job creation," Majhi said.

The HLCA has approved the proposal of Neelachal Ispat Nigam Ltd (Tata Steel) for expansion of its integrated steel plant capacity from 0.98 MTPA (million tonne per annum) to 9.50 MTPA with a cost of Rs 61,769.03 crore in Jajpur district.

Central PSU Bharat Coal Gasification and Chemicals Limited (CPSU) has proposed to invest Rs 11,782.05 crore for setting up of a manufacturing unit from high ash coal to ammonium nitrate plant in Jharsuguda district.

Similarly, the proposal of Hindalco Industries Ltd for expansion of smelter capacity from 0.38 MTPA to 0.68 MTPA with a cost of Rs 10,645 crore in Sambalpur district was also approved by the state government.

In the last six months, Odisha has attracted investments exceeding Rs 1.80 lakh crore through 73 industrial projects, which would create employment for over 1.1 lakh individuals, the official statement said.