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Odisha approves 4 proposals with investment of Rs 348.5 cr

Business Finance

IANS  |  Bhubaneswar 

The Odisha government on Tuesday approved four investment proposals worth Rs 348.5 crore which will help create employment opportunities for close to 6,000 people.

The proposals approved belong to a variety of industries including pharmaceuticals, textiles, downstream industries in metals and minerals, said a statement.

The government's nod to the projects came during the 79th meeting of the State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Aditya Prasad Padhi.

The SLSWCA accorded approval to a Kolkata-based pharmaceutical company to set up a unit for production of intravenous fluids at Ramdaspur in Cuttack at an investment of Rs 64.95 crore.

The plant's production capacity will be 6.36 crore bottles per annum and the project will create direct and indirect employment for 365 people, the statement said.

This will be the first such manufacturing unit in the pharmaceutical industry of Odisha.

The Angul Aluminium Park being developed as an exclusive state-of-the-art industrial park for ancillary and downstream industries for alumina and aluminium received a big boost with two investment proposals being approved by the SLSWCA.

The first one was from a leading Mumbai-based manufacturer of aluminium conductors to set up a greenfield manufacturing unit at the Angul Aluminium Park with a capacity of 40,000 metric tonnes per annum (MTPA).

The investment outlay was Rs 56.3 crore with employment potential for 200 persons.

The second proposal for the Angul Aluminium Park was from a Rajasthan-based cables company which proposed to establish a 30,000 metric tonnes per annum (MTPA) manufacturing plant to produce aluminium conductors at an investment outlay of Rs 50.30 crore with employment potential for 130 people.

The Angul Aluminium Park is the first-of-its-kind in the Indian subcontinent with facility for directly obtaining molten aluminium from the smelter.

The 300th proposal received by GO-SWIFT from a leading Kerala-based apparel manufacturer a few days ago was also approved by the SLSWCA. The leading exporter has committed to invest Rs 177 crore to set up a unit for knitting, fabric processing and garment manufacturing at Tata Steel's SEZ at Gopalpur in Ganjam district.

The project will create employment opportunities for over 5,000 people, with a majority of them being women.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, July 24 2018. 20:32 IST