The High Level Clearance Authority (HLCA), the apex body to approve investments in Odisha, cleared six key manufacturing projects, including those proposed by aluminium producers- National Aluminium Company (Nalco), Hindalco Industries and Vedanta Ltd.
In parallel, the ground breaking ceremony was performed for 15 projects with a week to spare for the second edition of ‘Make in Odisha’, the showpiece biennial investors’ conclave from November 11-15.
The six large projects are worth Rs 258.45 billion with the potential of generating 13,700 jobs. Vedanta Ltd’s plan to ramp up its Lanjigarh alumina refinery in Odisha with an investment of Rs 64.86 billion got the nod of HLCA. The metals & mining conglomerate has sought to raise capacity from one to six million tonnes per annum (mtpa). Aside from refinery expansion, Vedanta has also submitted plans to expand its aluminium smelter unit at Jharsuguda at a cost of Rs 12.04 billion. Also, the Anil Agarwal controlled entity will pump in Rs 65 billion on a caustic soda production unit at Dhamra near Bhadrak.
Hindalco’s proposal worth Rs 50 billion to expand its aluminium flat rolled products unit at Lapanga, near Sambalpur, too got cleared. Nalco, got the nod to spend Rs 55.22 billion on a mega downstream aluminium complex at Kamakhyanagar near Dhenkanal. The facility billed as the largest investment in metals downstream space in the state, will produce aluminium alloy wheels, aluminium foils, rolled products and extrusions. The manufacturing unit promises to create 1761 jobs.
Other than the investment commitments of primary aluminium makers, Chiripal Polyfilms Ltd, a leading manufacturer of flexible packaging solutions, has pledged Rs 11 billion investment on a unit at Paradip.
Besides approving the big ticket projects, chief minister Naveen Patnaik performed the ground breaking ceremony for 15 industrial units with a combined investment commitment of Rs 18.07 billion with an employment potential of 8883.
“I am pleased to note that we are grounding the industrial projects at a fast pace. I am particularly happy to note that the private industrial park policy of my Government has seen good response from the investor community and we have performed ground breaking of the industrial park at Dhamra, which will promote port-led manufacturing in the State. In less than one year, we have done the ground breaking or inauguration of 64 projects which have created employment opportunities for more than 30,000 youth. This has only reaffirmed our position as the number one state in implementation of live manufacturing investments”, Patnaik said.
The chief minister went on to say that his government’s focus was on broad basing industrial investments with the government committed to providing an unmatched facilitation mechanism to the investors.