Government of Odisha Approves Three Investment Proposals Worth Rs 17,833 cr in Core Sectors

BHUBANESWAR, India, Jan. 9, 2020 /PRNewswire/ -- The Government of Odisha continues to propel employment opportunities and boost industrialisation in the state by according its approval to three investment proposals worth Rs 17,833 crore which will create 6539 new jobs.

The High Level Clearance Authority (HLCA) meeting held under the Chairmanship of Chief Minister Shri Naveen Patnaik today in the Conference hall in Kharavela Bhawan further strengthened the predominance of the state in the core sectors of steel, aluminum and thermal power by approving a proposal each in those sectors.

Hon'ble Chief Minister took stock of the follow up of investment intents received during MIO 2016 and MIO 2018. Odisha has seen diversified Industrial development in the recent years with grounding of projects in Textile & Apparel, Chemical & Petrochemicals, Tourism and Food processing sectors. Principal Secretary Industries, Shri Hemant Sharma, presented a roadmap for MIO 2020 which included outreach activities, industrial infrastructure development and policy interventions.

The HLCA approved the proposal of Hindalco Industries Ltd. for setting up a 2 Million Ton per annum (MTPA) Alumina Refinery unit at- Kansariguda, District- Rayagada with a total investment of Rs. 8000 crore providing employment to about 4250 people.

It also approved the proposal of NTPC Ltd. for expansion of thermal power plant capacity of Talcher Thermal Power Station, located at: Talcher, Dist: Angul with additional investment of Rs.7698.46 crores.

The proposal of Rungta Mines Limited (RML) to expand its Integrated Steel Plant from 0.27 MTPA to 0.9 MTPA capacity at village- Kamanda, District - Sundargarh with a total investment of Rs. 2135 crore providing additional employment of 2289 people was also approved by HLCA.

About Odisha

Located on the east coast of India, Odisha has a coastline of 480 kms along the Bay of Bengal. The modern State of Odisha was formed on 1 April, 1936 but its history dates to the era of Kalinga mentioned in the Mahabharata. Over the years the state has maintained a unique cultural identity distinct from all of its neighbouring States.

Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth. The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State. This website is a one-stop location for all such information.

About IPICOL: 

Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State. IPICOL is responsible for devising the investment promotion, facilitation and aftercare strategy for The state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha undertakes all activities to promote Odisha as the investment destination of choice

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