Odisha’s Economy Gets a Boost with Approval of 8 New Projects Worth 1397.18 Crores

Bhubaneswar,  November 18,  2023  : The 124^th State Level Single Window Clearance Authority (SLSWCA) meeting, convened today, under the guidance of Chief Secretary Shri Pradeep Kumar Jena, IAS. The SLSWCA gave its nod to 8transformative projects worth 1397.18 Crores, further strengthening the state’s position as an investment destination.

Significant investments were made in theplastic, technical textile and Aluminium sectorfurther contributing to Odisha’s manufacturing capabilities. The steel sector, witnessed a surge in approvals, highlighting the region’s rich mineral resources and metallurgical expertise. IT sector emerged as a priority, reflecting Odisha’s commitment toIncrease IT Solutions.The Agro Industrysectors saw advancements, tapping into the state’s cultivation potential.These sectors spanned across 6 districts indicating a widespread industrial development strategy.

In the plastic sector, Sintex BAPL Limited is committed to invest INR 479.47 Crores in the establishment of Manufacturing unit for CPVC, UPVC, SWR, Agri Pipes, PVC fittings and Plastic tanks with annual capacity of 37,520 MT. Consequently,resulting in employment for 1000 individuals in Sambalpur. Also, HIL India is committed to invest INR 250 Crores to setup PVC and CPVC pipes manufacturing units thereby generating employment for 275 people.

Mega Flex Plastics Ltd with its manufacturing unit for Plastic containers, leno bag, PP Woven Bags, PP Woven fabrics & Corrugated box has an annual capacity of 9,600 MT in Khordha. With an investment of INR 62.38 Crores, this venture will not only generate employment opportunities for 382 individuals but also serve as the first-of-its-kind manufacturing facility.

The steel sector has experienced significant growth due to investment from notable companies including Four Sandhu Tubes Private Limitedand KAI Steel Private Limited. Collectively, these two companies have invested near about INR 188.98 Crores in regions such as Jajpur&Sundargarh. Through these investments in downstream sectors the state will generate employment for more than 403 people.

Hindalco Industries Ltd to invest INR 241.05 Crores in the aluminium sector, specifically for the establishment of aWhite Fused Alumina manufacturing unit in Sambalpur. This significant investment is expected to create job opportunities for 210 individuals.

In the IT Industry, Anuj Autograph Business Park is setting up anIT Park in Khordha with an investment of INR 105.3 Crores and an employment potential of 300.

In the Agro-Industry sector GGL Chalet Pvt.Limited to Invest 70 Crores on the manufacturing unit for Veneer (2,50,00,000 SQM per annum), Ply Board & Particle board (5,00,000 SQM per annum) and Biomass Pellet (10,00,000 MTPA) in Koraput. The combined employment generation potential is around290.

These projects spanning across diverse sectors from Plastic to Agro& Forest productsreflects Odisha’s Multifaced growth strategy and steps towards industrial development.

The project details are as follows which received approval from the committee:

Odisha’s strategic vision, coupled with its commitment to sustainable and inclusive growth, is not only attracting national and global investors but also setting a benchmark for overall development. As these projects unfold, they will contribute in making Odisha’s a powerhouse of industrial development and employment generation.

Corporate Comm India (CCI Newswire)