Separator

Government of Odisha Approves Eight Investment Proposals worth Rs. 1649 Crore

Separator
Government of Odisha Approves Eight Investment Proposals worth Rs. 1649 Crore

CEO Insights team , Press Release

The Government of Odisha approves eight investment proposals worth Rs.1,649.49 crore across sectors such as - food processing, chemicals, plastics, tourism, steel downstream and Infrastructure, in the 89th State Level Single Window Clearance Authority (SLSWCA) meeting. This meeting held under the chairmanship of Chief Secretary Asit Kumar Tripathy in Lok Seva Bhawan conference witnessed Hemant Sharma, Commissioner-cum-Secretary, Industries outlining the project proposals for consideration. These proposals are sure to create employment opportunities for 1450 people in the state.

Among the proposals approved by the SLSWCA are –

• Setting up of a tea blending & packaging facility by Tata Global Beverages. With investments worth Rs. 83.53 crore, this plant having an annual capacity of 36,000 Metric Ton will render employment to about 294 people.

• Establishment of a Coal Tar Pitch (CTP) distillation unit of total 0.2 MMTPA capacities by Runaya Metsource. With speculations worth Rs. 211 crore, the facility will employ about 212 people.

• Ideation of a HDPE and Thermoplastic pipes manufacturing unit with a capacity of 5,000 Metric Ton by Astra Polytechnik. With additional investmnts worth Rs. 60.06 Crore by SLSWCA, the firm will provide employment to an extra 150 people.

The State Government has been taking several unique initiatives to ensure hassle-free & conducive business environment for investors setting up units in the State



• Expansion of their five star hotel chains by Apeejay Surrendra Park Hotels, and Kamat Hotels for further development of tourism in Odisha. With funding worth Rs. 150 crore & Rs. 52 crore respectively, these hotels are to render employment to an additional 150 & 160 people respectively.

• Installation of a 30 MTPA underground Slurry Pipe Line by Thriveni Earthmovers with total investments worth Rs. 948.90 crore. In addition to providing a big boost to the state's metal downstream sector, the plant will generate employment for 217 people.

• Construction of a manufacturing facility for cartridge explosives, bulk emulsion explosives, detonating fuse and caste boosters by CDET Explosives industries. With expenditure worth Rs. 55 crore in this plant with 45,300.00 Metric Ton per annum capacity, employment for 177 people will be generated.

• Initiation for the expansion of its existing Logistics Park at Kalinga Nagar by Apeejay Logistics Park. With financing worth Rs. 50 crore, this park will create employment opportunities for 90 people.

Conventionally known for its mineral & mining strength, the state of Odisha has been focusing on the development of manufacturing & services industrial growth since the turn of the millennium. The State Government has been taking several unique initiatives to ensure hassle-free & conducive business environment for investors setting up units in the State.
Source : Press Release

Current Magazine