Odisha approves Rs 464.72 crore investment plans

By: |
November 18, 2020 10:46 AM

While complimenting efforts of various stakeholders, the chief secretary directed the Industries department to do a realistic assessment of the land and water that the industries actually need.

The proposals got the government's nod at the Single Window Clearance Authority (SLSWCA) meeting.

The Odisha government has accorded in-principle approval for four investment proposals worth Rs 464.72 crore, an official said. The implementation of the investment proposals will generate employment for more than 873 persons.

The proposals got the government’s nod at the Single Window Clearance Authority (SLSWCA) meeting held under the Chairmanship of Chief Secretary A K Tripathy on Tuesday.

The proposal of Galax Industries Private Limited to set up a Medium Density Fibreboard (MDF) manufacturing facility with an annual capacity of 72,000 cubic meters at an investment of Rs 93 crore got the SLSWCA nod.

The company will set up its unit at Malipada in Khurda district which will generate employment opportunities for more than 310 persons, said Industries secretary Hemant Sharma.

A 120 KLPD grain-based distillery unit for manufacturing of Extra-Neutral Alcohol (ENA)/ Ethanol and 4 MW cogeneration power plant to be set up in Khurda and Nayagarh by Globus with an investment of Rs 151.72 crore got the SLSWCA nod. It will provide employment for over 300 persons, Sharma said.

The government also gave its nod to the proposal for setting up a Pellet Plant of 1.6 MTPA capacity at Lathikata in Sundergarh by Envirocare Infrasolution Pvt Ltd with an investment of Rs 100 crore and employment potential for over 195 persons.

A 4 MTPA Slurry Pipeline project from its proposed Beneficiation Plant at Koira to Pellet plant at Lathikata of Sundergarh district to be laid by Envirocare Infrasolution Private Limited with an investment of Rs 100 crore and employment opportunity for more than 68 persons, he said.

Tripathy in a statement said that the state could attract investment of around Rs 1.19 lakh crore envisaging employment for over 54,131 people during the COVID-19 pandemic period. The investment proposals were approved by the state since February this year, he said, adding that this has been possible because of an enabling policy and ‘ease of doing business’.

While complimenting efforts of various stakeholders, the chief secretary directed the Industries department to do a realistic assessment of the land and water that the industries actually need.

He also directed to explore possibilities of advanced technical intervention for harvesting large quantities of rainwater and its recycled use.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1World sees India as a trustworthy and promising partner: PM Modi at IIT 2020 Global Summit
2Not just pent up demand that is reviving economy: FM Nirmala Sitharaman
3Nirmala Sitharaman urges DRI, customs to ensure every economic offender is taken to task