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Odisha clears Rs 47,569 cr investments in FY16

Sat, 19th Mar 2016 (Source:Business Standard)

Aiming to re-position itself as an investor friendly state, Odisha approved investment proposals of the order of Rs 47,569.41 crore. The nod was given to 35 proposals spanning a cross section of industries like power, aluminium, steel, cement, food processing, textiles, plastics, healthcare, paper, logistics and LPG bottling. The projects approved promise an employment potential of 11,738. An overseas investor --- Midal Cables got the nod of the State Level Single Window Clearance Authority (SLSWCA) for setting up a rod and wire conductor unit at a cost of Rs 350 crore. The downstream unit is coming up at the aluminium park at Angul, jointly developed by National Aluminium Company (Nalco) and state owned Odisha Industrial Infrastructure Development Corporation (Idco).

The alumina downstream space received another proposal from Grid Conductors Ltd, a 100 per cent subsidiary of Power Grid Corporation of India Ltd (PGCIL). The company would invest Rs 127.35 crore on the aluminium conductor unit, also coming up at the Angul aluminium park.

In the power sector, the state government okayed the plan by Mahandai Aban Power Company Ltd to expand capacity of its power plant from 1,030 Mw to 1,320 Mw. The project cost is pegged at Rs 8,000 crore. The expansion plan of RPG Group controlled CESC Ltd to expand capacity of its proposed project from 1,000 Mw to 130 Mw also got the nod of the government.

But, since the forest clearance is still pending, no land has been transferred to the company yet by Idco.

Odisha also got its maiden gas based power plant proposal from JGreen Power Pvt Ltd. The 423 Mw LNG based power station has been proposed at Dhamra and is estimated to cost Rs 3,106 crore.

In the steel sector, the state received a flurry of proposals in pellet manufacturing. Iron ore rich Keonjhar district as bagged four new pellet projects with a combined capacity of over five million tonne per annum (mtpa). Overall investment on these plants proposed, exceeds Rs 5,300 crore.

Steel sector has another proposal by Jindal Steel & Power Ltd (JSPL) that has proposed a one mtpa beneficiation plant at Tensa, entailing a cost of Rs 90.60 crore.

Cement has new proposals by JSW Cement and Ramco Cements. JSW Cement is keen on 1.2 mtpa cement grinding unit at Kalinganagar in Jajpur district. The project is tipped to cost Rs 318 crore. Similarly, Ramco Cements Ltd would set up 1.2 mtpa cement unit within the premises of Indian Metals & Ferro Alloys Ltd (IMFA) at Choudwar near Cuttack. The company has committed an investment of Rs 406 crore.

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