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Make in Odisha: Over 80 companies promise to invest Rs 2.03 lakh crore

Fri, 02nd Dec 2016 (Source:The Indian Express)

The biggest ever investment expo in the state, Make in Odisha ended on Friday with promises of Rs 2.03 lakh crore investment and 1.4 lakh jobs for the state in 10 sectors. While traditional investors like Vedanta, Jindal and Tata Steel promised to invest about Rs 97,000 crore in mines & mineral sectors, labour intensive sectors like IT & electronics, manufacturing, apparels, biotechnology, tourism, petrochemicals, chemicals & plastics and food processing saw promises of investment to the tune of Rs 10,000 crore. More than 80 companies have shown interest to invest.

Thanking the investors for reposing faith in state and showing intent to invest, Chief Minister Naveen Patnaik said the proposed investments have the potential to generate 140,000 jobs for the people of the state. Naveen said the State would now organise the conclave every two years to achieve its Vision 2025 goal of getting investments worth Rs 2.5 lakh crore and generating employment of three million. Union minister for coal and renewable energy, Piyush Goyal said Odisha should become a manufacturing State and take advantage of the proposed GST.

Chief secretary Aditya Padhi said Odisha in last two days received proposals of a food processing plant by Adani Wilmar, a Rs 10,000-crore project from Essel Packaging and from Max Venture in petroleum & chemicals sectors. In tourism and hospitality sector, Nataraj Hotels, Haldirams and Emerald Group of Hotels of Dubai have evinced. Carnival Films has proposed to establish one multiplex at each of the district headquarters. A Film City that will house a film institute has also been proposed in the state.

Union petroleum and natural gas minister Dhamendra Pradhan said that a biogas plant will be set up in Bargarh with a budget of Rs 900 crores. Besides, aluminium major Nalco will set up world class Aluminum Park at Angul and a Plastic Park in collaboration with Indian Oil at Paradip, he said. “In the coming days, we would need to provide jobs to 1.25 crores of Odia youths. Centre is ready to provide all support to Odisha. The State needs to reclaim its old glory,” he said.

Two foreign investments including a rice processing in Kalahandi and turmeric processing in Kandhamal district by Italy’s Indo European Sustainable Development was received. The company will spend Rs 250 crore. A garment manufacturing unit from Bangladesh will set up near Bhubaneswar that would employ about 4,000 people.

Apart from metals and minerals sector, infrastructure was the second highest favourite with proposals worth Rs 38,443 crore followed by power & renewable energy at Rs 29,932 crore. Fertilisers, chemicals & petrochemicals and plastics saw investment proposals worth Rs 27,023 crore.

Odisha industries secretary Sanjeev Chopra said 70% of the proposals are in greenfield nature. “We are not taking the MoU route with these companies. What matters is how much of investment is grounded. If industries are non-pollutant then we would give them state-specific clearances in less than 15 days. As for land they can get land from our land bank,” he said

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