LANDMARK DECISION : ODISHA APPROVES INR 1482.53 CRORE INVESTMENT IN SEVEN TRANSFORMATIVE PROJECTS

22nd December 2023, (Odisha Taza news) Bhubaneswar :–> In a historic move, the 126th State Level Single Window Clearance Authority (SLSWCA) meeting, presided over by Chief Secretary Shri Pradeep Kumar Jena, IAS, has greenlit seven transformative projects valued at INR 1482.53 Crores. These major investments, focusing on diverse sectors, are set to revolutionize Odisha’s economic landscape and reinforce its status as a prime investment destination.

The approved projects, collectively generating 11,969 employment opportunities, encompass textiles, chemicals, mining, steel production, and Bio Gas energy. Spread across Khurda, Ganjam, Sundargarh, Keonjhar, Jajpur, Balasore, and Rayagada districts, these strategic investments signify a comprehensive and widespread industrial development strategy, positioning these regions as vital hubs for economic resurgence.

MAS Udyat India Private Limited is set to revolutionize investment in Khurda with its project focused on developing integrated textile facilities. With an investment of INR 214.4 crores, the company aims to establish garment factories, a fabric mill, and facilities for knitting/dying seamless garments. This comprehensive initiative not only enhances the textile and apparel sector but also brings with it the potential to generate 8,844 jobs in the region.

In Ganjam, Vinner Labs Private Limited is making significant strides with a commitment of investing INR 52 crores in a manufacturing unit for fine chemicals. The annual capacity of 600 MT is a testament to the company’s commitment to the chemical sector. This venture is expected to create 130 employment opportunities, contributing to the industrial growth of the region.

MR Unicast Private Limited is spearheading the growth of equipment manufacturing in, Sundargarh, with a project valued at INR 56.32 crores. The company’s focus on mining and crusher equipment, along with casting units, brings a total capacity of 400 Nos and 9000 MT, respectively. With an employment potential of 250, this initiative is a significant step towards strengthening the equipment manufacturing sector.

In Keonjhar, Tech AIC DRI Pellets Pvt. Ltd. is set to become a major player in the steel downstream industry. With an INR 800 crore investment, the company aims to establish an integrated steel products manufacturing plant with a capacity of 0.7 MTPA. This project is expected to generate employment for 2013 individuals, contributing to the economic growth of the region.

Alenn Steel Industries Private Limited is driving the steel downstream sector in Kalinganagar, Jajpur, with a comprehensive project valued at INR 178.00 crores. The company plans to establish CR precision pipes manufacturing units, black and HRPO pipes manufacturing units, coil slitting and parting units, along with a cut-to-length unit. The employment potential of 465 positions emphasizes the significant impact on job creation in the region.

Reliance Bio Energy Limited is contributing to sustainable energy solutions in Balasore with a project focused on compressed biogas and fermented organic manure. The INR 121.21 crores investment in this venture showcases the company’s commitment to the compressed bio gas sector and is anticipated to generate employment for 69 individuals.

Terrestrial Food Processors Private Limited, a part of the JK Paper Group, is investing INR 60.6 crores in a 150 TPD maize corn processing plant in Jaykaypur, Rayagada. This initiative is set to significantly contribute to the food processing sector, with an employment potential of 198, enhancing the economic landscape of the region.

In a collective effort, these seven transformative projects, with a cumulative investment of INR 1482.53 Crores, are poised to create 11,969 employment opportunities, paving the way for enhanced industrial growth and economic prosperity in Odisha.

Under the able leadership of Chief Minister Naveen Patnaik, Odisha is rapidly emerging as a global investment hub. The state’s appeal to investors worldwide is a testament to CM’s visionary approach. The commitment to sustainable and inclusive growth under his leadership sets a noteworthy for overall development of the State.