Odisha Government Approves Investment Proposals Worth Rs 39,271 Crore
The Odisha government has given the green light to investment proposals worth Rs 39,271 crore, which will create employment opportunities for 17,098 individuals in various sectors. These proposals were approved during a High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi. The meeting saw the approval of 12 key industrial projects across eight districts in the state.
Focus on Industrial Growth and Job Creation
Chief Minister Mohan Charan Majhi expressed the government’s commitment to bolstering industrial growth and job creation. The aim is to position Odisha as a premier investment destination in India and establish the state as the industrial hub of the country within the next five years.
“Our goal is to attract diverse industries and generate over 17,000 job opportunities with an investment of over Rs 39,000 crore across various sectors,” stated Chief Minister Mohan Charan Majhi.
Highlighted Projects
Electronics System Design and Manufacturing (ESDM) Sector
In the ESDM sector, three projects were approved. Silectric Semiconductor Manufacturing Private Limited will establish a Silicon Carbide Device manufacturing unit, Heterogeneous Integration Packaging Solutions Private Limited will set up a manufacturing plant for glass substrates used in semiconductor packaging, and Kaynes Circuits India Private Limited will create a Printed Circuit Boards (PCBs) manufacturing unit. These proposals represent a combined investment of Rs 6,355.50 crore and are expected to create 2,320 jobs. All projects will be located in Khurda district.
Chemicals Sector
In the chemicals sector, Laxmi Organic Industries Limited and Epigral Limited will establish synthetic organic chemicals manufacturing units in Jagatsinghpur district. These projects will collectively invest Rs 5,355 crore and provide employment to 1,900 individuals.
Metal Downstream Sector
The metal downstream sector will witness the establishment of various projects. Electrosteel Castings Limited will build a ductile iron pipe manufacturing plant in Dhenkanal, Jindal India Limited will set up a steel pipe processing facility in the same area, and Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These projects are expected to collectively invest Rs 12,191 crore and generate approximately 5,570 jobs.
Steel Sector
Shyam Steel Manufacturing Limited will establish a 0.5 MTPA integrated steel plant in Keonjhar, with an expected investment of Rs 2,510 crore and the creation of 3,640 jobs.
Cement Sector
Ambuja Concrete North Private Limited’s cement grinding unit in Cuttack with an investment of Rs 1,400 crore is anticipated to employ 410 people.
Green Ammonia and Rubber/Plastics Sectors
The green ammonia sector will see investment from Torrent Green Hydrogen Private Limited’s project in Ganjam, amounting to Rs 10,260 crore and expected to generate 1,558 jobs. Dalmia Bharat Refractories Limited plans to establish a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of Rs 1,200 crore, potentially creating 1,700 jobs.
Conclusion
The Odisha government’s approval of these investment proposals demonstrates its dedication to making the state a business-friendly and industrial powerhouse. With a diverse range of sectors receiving investments, Odisha is well on its way to attracting industries and creating ample employment opportunities. By positioning itself as an industrial hub, Odisha aims to become a key player in India’s economic development.
