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46 industries in Odisha go into partial production

Mon, 04th Apr 2016 (Source:The Hindu)

Despite slow progress in setting up of industrial projects, Odisha seems to have hit the halfway mark in its much-hyped industrialisation scheme, with partial implementation of 46 of 92 projects.

According to the State Industries Department, 46 industrial projects have gone into partial production by grounding an investment of Rs.2,53,789 crore.

Of these 46 projects, 36 are steel plants, four thermal power projects, two cement plants and three in the aluminium sector.

The State government had signed memorandums of understanding with 92 companies over the past decade for setting up of projects like steel and power plants.

These companies have pledged a mammoth investment of Rs.5,68,239.49 crore in the State. However, promoters have withdrawn from six of the projects.

As per information furnished by Industries Minister Debi Prasad Mishra in State Assembly recently, companies that have spent over Rs.20,000 crore include Jindal Steel and Power Limited, Angul, Bhushan Steel Limited, Meramundali, Tata Steel, Kalinganagar, Vedanta Aluminium, Aditya Aluminium and Indian Oil Corporation Limited.

The industries have also created 1,52,398 employment opportunities.

However, sources in industries said the number of projects that have started partial production may be painting a misleading picture.

After grounding projects, many promoters are reluctant to go for realisation of full capacity reported in the MoUs mostly due to uncertainty in supply of raw materials.

The Department pointed out that Rs.3,14,449.46 crore of investment in rest of the projects is in different stages of implementation.

Most of these projects are entangled in land acquisition issues.

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