Odisha Government Approves 26 Investment Projects Worth Rs 59.93 Billion
The Odisha government recently gave the green signal to 26 investment projects with a total investment of Rs 59.93 billion. With these projects, the state expects to create employment opportunities for over 19,000 people. The State Level Single Window Clearance Authority (SLSWCA), headed by Chief Secretary Manoj Ahuja, played a pivotal role in these decisions.
Diverse Projects Across Various Sectors
These sanctioned projects span a wide range of sectors, including steel, chemicals, renewable energy, textiles, manufacturing, packaging, food processing, IT, infrastructure, and tourism. Such a diverse mix shows the state’s commitment to sustainable development and fostering economic growth across multiple industries.
Boost to Steel Sector
The approval includes several noteworthy projects in the steel sector. GM Iron and Steel Company Limited plans to establish a 0.23 million tonne per annum (MTPA) integrated steel plant and a 45 MW captive power plant in the district of Mayurbhanj. This ambitious project comes with an investment of Rs 7.45 billion, signaling new opportunities in the steel industry.
Shree Ganesh Metaliks Limited aims to expand its integrated steel plant in Sundargarh, an investment that is estimated to amount to Rs 6.4 billion. Bhaskar Steel and Ferro Alloy Pvt Ltd also secured an investment of Rs 5.3 billion for their project. The cement industry is not far behind with Times Steel And Power Pvt Ltd set to invest Rs 4.32 billion.
Promoting Infrastructure and RenewFocusable Energy
Apart from the steel industry, the approved projects also focus on infrastructure development and renewable energy. These projects are expected to significantly boost the state’s economic growth and create more employment opportunities in the future.
Envirocare Infrasolution Private Limited plans to set up a 100 MW ground-mounted solar photovoltaic captive power plant in Boudh with an investment of Rs 3.51 billion. This project aligns with the emphasis on renewable energy and environmentally sustainable practices.
Notably, Solisys Solar Pvt Ltd has ambitious plans to establish a manufacturing facility for solar modules in Khurda, contributing toward the renewable energy sector with an investment of Rs 595 million.
Wide Array of Districts Will Benefit from these Projects
The approved projects will be implemented in 14 districts of Odisha, generating development across different regions. The benefit will be spread across Mayurbhanj, Sundargarh, Sambalpur, Kendujhar, Ganjam, Jagatsinghpur, Khurda, Jharsuguda, Boudh, Koraput, Balasore, Cuttack, Bhadrak, and Puri.
A Game-Changer for Odisha’s Economy
With the government’s recent approval of these investment projects, Odisha is positioning itself as a leader in industrial and infrastructural development. The wide variety of sectors covered in these projects aims to give impetus to the state’s economy, help in the creation of affordable housing, manufactured products, job opportunities, ultimately fostering all-round development.
Conclusion
The government’s enthusiastic approval of these 26 investment projects across Odisha is a testament to its commitment to socioeconomic progress. These projects, spanning various sectors, will significantly contribute to employment generation and economic growth. By encouraging investment and fostering a batch of new opportunities, the approved projects showcase the government’s proactive approach toward driving sustainable development and securing a brighter future for Odisha.
