Toll Free Helpline - 1800 345 7111 ( Timing 10.00 AM to 6.00 PM on working days )

Odisha seeks final approval for NIMZ

Wed, 16th Mar 2016 (Source:Business Standard)

The Odisha government has sought final approval for the proposed National Investment and Manufacturing Zone (NIMZ) to be developed at a cost of Rs 10,000 crore at Kalinga Nagar in Jajpur district.

The state government has recently requested the Department of Industrial Policy and Promotion (DIPP) under the Union ministry of commerce and industry to give the final nod for NIMZ. The in-principle approval was accorded by DIPP in August 2015.

“The detailed project report (DPR) prepared by Idco (Odisha Industrial Infrastructure Development Corporation), the nodal agency for implementation of the project, has been forwarded to the Centre for developing the zone spreading over 163 square kms”, said an official.

The project will be developed in three phases in 15 years with an investment of Rs 10000 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 at investment of Rs 1.1 lakh crore and generate an employment of 4.5 lakh after the completion of the project. 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.

Other News

Investible Projects
EODB Reforms
Investor's Guide