Odisha Approves Rs 1.50 lakh Crores projects

Odisha Approves

Odisha Approves: High Level Clearance Authority (HLCA) of the Govt of Odisha today held its 30th meeting under the chairpersonship of the Chief Minister, Shri Naveen Patnaik. The organizations who had participated at MIO Conclave 2022 and showed investment intent in the state realized the same with the HLCA committee approving9such industrial projects worth INR 1,53,074.63 crores that would generate over 27,030 employment opportunities for the people of Odisha.

The state government is working hard towards converting the investment intents into ground reality. Projects spread across diverse sectors like green energy and equipment, metals and minerals, paper and IT infrastructure received approvals. The approved projects will be set up across various parts of the state namely, Balasore, Dhenkanal, Ganjam, Jagatsinghpur, Kalahandi, Khordha, Koraput, and Mayurbhanj. The committee has given a go-ahead to 4 projects in the Green Energy and Equipment sector, 2 projects in the Paper industries, 2 projects in the Metals & Minerals sector and 1 project in the IT Infrastructure sector.

The HLCA approved the proposal of ACME Clean Energy Private Limited, entailing an investment of INR 58,209.13 crores. It proposes to set up a Green Hydrogen plant and a Green Ammonia plant with a capacity of 1.1 million MT, at Kujanga, Jagatsinghpur and captive Renewable Energy Unit(4500 MW Solar Power Plant) at Koraput & Kalahandi district.It is expected to provide employment opportunities to about 3,400 people in the state.

The committee also approved the proposal of Avaada Green H2 Private Limited at Ganjam district, which promises an investment of INR 23,500 crores and is expected to provide employment opportunities to about 1,500 people in the state.

Alongsidethese two Green Energy and Equipment sector projects, HLCA approved 2 other projects in the Green Energy & Equipment sector namely Renew EFuels Private Limited (REFPL) and Ocior Energy Private Limited whichaim to provide employment to more than 3,300 people of Odisha in total. While REFPL intends to set up aGreen Ammonia Plant with a capacity of 1.09 million MT, the Ocior Energy Private Limited proposal includes installation of Green Ammonia Plant of 1million MT capacity.

In the Paper sector, the committee gave a nod to 2 projects, namely Bank Note Paper Mill India Private Limited and Deevyashakti India Private Limited. With an investment of INR 2,500 crores, the Bank Note Paper Mill India Private Limited, (JV between Govt. of India and RBI) proposes to set up a bank note paper unit at Balasore, which will provide employment opportunities to more than 800 people of Odisha. On the other hand, Deevyashakti India Private Limited proposes to set up an Integrated Pulp and Paper Mill at Dhenkanal, which includes an investment worthINR 1,000 crores, is expected to furnish employment opportunities to around 3000 people of the state.

In terms of the Metals & Minerals sector, the authority approved 2large projects which are expected to provide employment to a total of around 12,500 people of Odisha. The proposal of ArcelorMittal Nippon Steel India Ltd includes the setting up of 7 MTPA Steel Plant in Jagatsinghpur with an investment of INR 38,000 crore, and is expected to churn employment opportunities for more than 11,000 people in the state. The second project in the sector, from Rungta Metals Private Limited (RMPL) is for the expansion of its Integrated Steel Plant from 0.5 MTPA to 1 MTPA in Rairangpur of Mayurbhanj district with an investment of INR 1,140.00Cr.

In the IT & Infrastructure sector, the proposal by My Home Constructions Private Limited has been approved by HLCA, which involves the development of IT infrastructure with modern amenitiesat Bhubaneswar, in Khordha. With an investment of INR 1,525.50 crores, the project is expected to provide employment opportunities to 2500 people.

The State Government of Odisha has always encouraged and welcomed industrialists to invest in the state. Its industry-friendly policies have positioned the state to be a highly lucrative destination for investors who have been awaiting opportunities to step into Eastern India or expand their footprint in the region.