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Tue, 17th May 2016 (Source:Business Standard)
The Centre has accorded final approval for the proposed National Investment Manufacturing Zone ( NIMZ) to be developed at a cost of Rs 10,000 crore at Kalinganagar in Jajpur district.
Kalinganagar is touted as the emerging steel hub of the country with concentration of units both by public and private sector entities.
“A high-level committee of the Department of Industrial Policy and Promotion ( DIPP) under the ministry of commerce and industry formed for giving the final approval has cleared the proposal of setting up NIMZ project in Odisha. However, we are yet to receive an official communication from the DIPP ”, said an official. The central government is expected to give more than Rs 4000 crore for the NIMZ project spreading over 163 sq km. The in-principle approval was accorded by DIPP in August 2015.
Idco (Odisha Industrial Infrastructure Development Corporation), the state's agency for land acquisition and infrastructure development, is the nodal agency for implementation of the project.
The project will be developed in three phases in 15 years with an investment of Rs 10,000 crore for the internal and external infrastructure. Out of the total figure, the state government expects Rs 5,000 crore from the Centre and the balance will be invested by the state and private partners.
The NIMZ is expected to attract investment of Rs 1.5 lakh crore and generate an employment for 450,000 people after its completion. The manufacturing zone is expected to attract investment from varied sectors like metal and mines, automotive, steel and downstream industries.
It may be noted that the NIMZ would be a combination of production units, public utilities, logistics, environmental protection mechanism, residential areas and administrative services.
Such zones would have a processing area where the manufacturing facilities along with associated logistics and other services as well as required infrastructure will be located.
The processing area may include one or more Special Economic Zones (SEZs), industrial parks, warehousing zones and export oriented units.
Besides, there will be a non-processing area to include residential, commercial and other social and institutional infrastructure.