The Odisha government today approved two new projects of IFFCO and Well Spun Odisha Steel, which are expected to bring Rs 224 crore investment to the state.
The proposals, which got the nod of the Single Window Clearance Authority headed by Chief Secretary A P Padhi at a meeting here today, were earlier submitted by Indian Farmers Fertiliser Cooperatives (IFFCO) and Well Spun Odisha Steel Private Limited.
"The project proposal of IFFCO for setting up a railway siding at the new Paradeep station yard was approved in the meeting. The project envisaged investment of Rs 63.55 crore," Kalyan Mohanty, General Manager of Industrial Promotion And Investment Corporation Of Odisha Limited (IPICOL), said.
The project would provide employment to around 97 persons and is targeted to complete within 14 months, he said.
Around 49 acre of land required for the siding has also been identified, he said, adding IFFCO would also allow other companies to use its proposed siding.
In regard to the second proposal, Mohanty said Welspun Odisha Private Limited would set up a 0.27 MTPA long product (steel) facilities centre at Dosingha near Dhamara in Bhadrak district.
The proposal envisaged an investment of around Rs 160.15 crore and would provide employment to around 915 persons.
Land required for the purpose was around 40 acres, Mohanty said.
The State Level Watershed Committee (SLWC) also reviewed the status of the investment proposals mobilised in the 'Make in India' week in Mumbai and at the Odisha Investors' Meet in Bengaluru, earlier this year.
So far, 14 project proposals envisaging investment of around Rs 70,959 crore have been mobilised from the investors' meet held in Mumbai.
Similarly, from the meet held in Bengaluru, around 26 companies have been mobilised to submit detail project proposals envisaging investment of around Rs 90,670 crore.
The Chief Secretary has advised principal secretaries and secretaries of respective departments to fasten the investment intentions through facilitating the proposals.
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