Odisha approves Rs 3,457 crore investment proposals

The Odisha government has approved 18 investment proposals worth Rs 3,457 crore which will generate employment for at least 14,436 people, an official said.

The proposals were approved at the State Level Single Window Clearance Authority (SLSWCA) chaired by chief secretary P K Jena on Thursday. The panel also recommend two Industrial projects to HLCA (High-Level Investment Authority), the official said.

Ten out of 18 investment proposals were received during the Make in Odisha Conclave 2022. This showcases the immense success of the conclave in attracting investments and reinforcing Odishas rank as second among the states in attracting ongoing investments in the 2022-23 fiscal, the official claimed.

Stating that the state government is committed to converting the investment intents into ground reality, the official said projects spread across diverse sectors like metal downstream and ancillary, pharmaceutical, food processing, cement, textile and apparel, IT and ESDM, and Agro Processing received approvals in the SLSWCA meeting.

The approved projects will be set up across various parts of the state including Jajpur, Khurda, Koraput, Cuttack, Sundergarh, Bhadrak, Sonepur, Bolangir and Boudh districts.

The committee has given the go-ahead to nine projects in the metal sector, five projects in the agro and food processing sector and one project each in the textiles, cement, IT and ESDM, and pharmaceuticals sectors.

Odisha has been a leader in the mining and metallurgy sector owing to its natural resource advantage. This has been further leveraged by the state government to develop a metal ecosystem in the state. While Odisha remains the leader in the production of steel, stainless steel, alumina and aluminium, it is also emerging as the leader in the metal downstream and ancillary sector, the official claimed.

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