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Odisha clears investment proposals worth Rs 1500 crore

Mon, 28th Sep 2015 (Source:The Times Of India)

The State government on Saturday cleared investment proposals worth around Rs 1,500 crore within a month of implementing the Industrial Policy Resolution-2015, which focuses on the ease of doing business.

The State-Level Single Window Clearance Authority (SLSWCA) headed by Chief Secretary G C Pati cleared four proposals, including a foreign direct investment (FDI) one.

Baharain-based Midal Cables would set up a 60,000 tonne an annum aluminium rod and conductor plant at Angul Aluminium Park, a joint venture of Odisha Industrial Infrastructure Development Corporation and National Aluminium Company Limited.

"The promoter would invest Rs 358.94 crore and it would generate employment opportunity for 350 people," said senior officer of the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL).

The park, proposed to attract downstream and ancillary industries, has so far received 11 proposals, official sources said.

The SLSWCA also approved a proposal of Indo Pellets Private Limited for setting up of a 6 million-tonne per annum (mtpa) iron ore beneficiation plant and 2.4 mtpa pelltization plant in Keonjhar district with an estimated investment of Rs 926.73 crore. Both the unit would generate direct employment opportunity for 350 people.

The state government also approved the proposal of Kashvi International Private Limited, which has proposed to set up a pelletization plant with an investment of Rs 152.77 crore at Jhumpura in Keonjhar.

Another proposal by the Prakrutik Enterprises Private Limited has also received green light from the State Government to set up a 2 mtpa coal washery plant at Talcher. The plant would invest Rs 104.4 crore, which would provide employment to 200 people, official sources said.

According to IPICOL sources, the State-based agency has been receiving tremendous response on investment in Odisha. "We are examining each case and it would be placed before the SLSWCA very soon," said the officer

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