11-09-2024, 10:28 AM
Following is a long excerpt from https://sambadenglish.com/latest-news/in...e_vignette as it is based on a government press release.
Quote:Bhubaneswar: The state government has approved 15 major industrial projects with a combined investment of Rs 3,353.15 crore in Odisha.
The approvals were granted during the 132nd State Level Single Window Clearance Authority (SLSWCA) meeting, chaired by Chief Secretary Manoj Ahuja today.
These projects are expected to generate over 4,637 job opportunities in the state.
The newly-approved projects cover a range of high-impact sectors, underscoring Odisha’s commitment to creating a diverse industrial ecosystem.
With investments in sectors like Chemical/Renewable Energy, Steel Downstream, Aluminium Downstream, Food Processing, Manufacturing, Textile & Apparel, Tourism, Pharmaceuticals, and Cement, Odisha is establishing itself as a prime destination for industrial growth.
These projects will be implemented across several districts, including Koraput, Khordha, Bargarh, Puri, Cuttack, and Jharsuguda.
In the Chemical/Renewable Energy sector, Reliance Bio Energy Limited will establish a compressed bio-gas and fermented organic manure plant in Puri. This Rs121.21 crore investment will create 69 jobs, supporting the state’s emphasis on sustainable and renewable energy sources.
The Steel sector will see a substantial expansion by Beekay Steel Industries Limited in Cuttack with a Rs 750 crore investment aimed at increasing production capacities, including sponge iron, billets, ferro alloys, sinter plants, and a captive power plant. This project alone is projected to generate employment for 800 individuals, marking a notable advancement in Odisha's steel production capabilities.
The Downstream Aluminium sector also receives a boost with HM Power and Cables Pvt Ltd establishing an aluminium conductor, power cable, and wire manufacturing plant in Jharsuguda. The Rs 55.72 crore project, expected to employ 205 people, aligns with Odisha's strategy to enhance value-added aluminium production and support industries that rely on Odisha’s rich mineral resources.
Furthermore, Nexthermal Asia Private Limited will set up a heating elements manufacturing unit in Khurdha, providing essential components to downstream steel industries, supported by an investment of Rs 55.81 crore and generating 132 jobs.
Odisha’s Food Processing sector continues to attract investment, with projects by Bhuvaneshwari Foods and Beverages Private Limited, Aban Beverages Private Limited, Geofast Consumer Products Private Limited, and Avira Distillery Pvt Ltd. These projects will come up in Khurdha, Baragarh, and Cuttack with total investments of nearly Rs 1,542.04 crore and are expected to create over 1,358 jobs. The introduction of these food and beverage production units strengthens Odisha’s reputation as a hub for food processing, a sector that plays a vital role in rural development and employment generation.
In the Textile & Apparel sector, Odisha Textile Manufacturing Private Limited is establishing a facility in Khurdha to manufacture recycled yarns from textile waste. This initiative, valued at Rs 51.80 crore and expected to create 535 jobs, highlights the state’s commitment to sustainable practices within the textile industry.
In Tourism sector, ITC Limited will expand its five-star hotel “Welcomhotel” in Bhubaneswar with a Rs 119.14 crore investment, providing an additional 240 jobs.
Additional tourism-related projects by SJ JRG Ventures LLP and Crackers India Infrastructures Ltd (LYFE Group of Hotels) will bring new hospitality facilities to Puri and Koraput, totalling Rs 154 crore in investment and creating 380 jobs. These developments are expected to enhance Odisha's appeal as a tourist destination, furthering the state’s economic and cultural profile.
In Pharmaceuticals, Infunex Healthcare Pvt. Ltd will establish its second unit for manufacturing intravenous fluids in Cuttack with an investment of Rs 59.43 crore, creating 182 additional jobs.
Odisha’s cement production capacity will expand with the approval of Ultra Tech Cement Ltd’s project to increase its cement grinding unit capacity from 3 MTPA to 6 MTPA in Cuttack. This Rs 372 crore expansion project is expected to create 581 jobs and underscores the state’s commitment to infrastructure development.
These projects represent a substantial commitment to diverse sectors across Odisha, collectively valued at Rs 3,353.15 crore and promising the creation of 4,637 jobs.