Odisha okays over Rs 25,000-crore investment proposals of Nalco, Vedanta, two others

By: | Updated: November 6, 2018 2:30 AM

The Odisha government on Saturday approved investment proposals worth Rs 25,845 crore for setting up six mega manufacturing facilities by Nalco, Hindalco, Vedanta and Chiripal Poly Films.

A High-Level Clearance Authority (HLCA), headed by chief minister Naveen Patnaik, gave its nod to the investment proposals of the large scale manufacturing units, which have the potential to create 13,700 jobs in the state, an official said. (File)

The Odisha government on Saturday approved investment proposals worth Rs 25,845 crore for setting up six mega manufacturing facilities by Nalco, Hindalco, Vedanta and Chiripal Poly Films.

A High-Level Clearance Authority (HLCA), headed by chief minister Naveen Patnaik, gave its nod to the investment proposals of the large scale manufacturing units, which have the potential to create 13,700 jobs in the state, an official said.

Of the total Rs 25,845-crore investment proposals, Vedanta alone has proposed to invest Rs 14,223 crore and create employment for 10,694 people in three separate units. The aluminium major has proposed to expand the capacity of its refinery unit at Lanjigarh in Kalahandi district at an investment of Rs 6,483 crore, which would provide employment to 9,494 people.

Vedanta also proposed to invest Rs 1,240 crore for expansion of its aluminium smelter plant at Bhurkhamunda, in Jharsuguda. The project will create employment for 800 people, the company said.

The company’s proposal for setting up a caustic soda and chemical by-product plant at an investment of Rs 6,500 crore also got approval of the HLCA. The company said the unit will provide jobs to 400 people.

Nalco’s proposal for production of aluminium alloy wheel, aluminium foil, aluminium rolled products and extrusions, also got the green signal from the HLCA .

The Navratna PSU has proposed to invest Rs 5,522 crore and create employment for 1,761 people at Kamakshyanagar in Dhenkanal district.

Hindalco’s proposal for setting up aluminium flat rolled products unit at Lapang in Sambalpur district at an investment of Rs 5,000 crore too got the HLCA nod. The company will provide employment for 550 people.

Chiripal Poly Films has proposed to produce flexible packaging unit under plastic and polymer sector at Paradip. The company plans to invest Rs 1,100 crore and generate employment for 700 people.

15 new projects to create 8,883 jobs in Odisha
Odisha chief minister Naveen Patnaik on Saturday conducted groundbreaking ceremony for 15 industrial units that would collectively invest Rs 1,807.92 crore in the state, besides creating employment for 8,883 people.

The projects are being developed by companies like Ultratech Cement, Welspun, Chettinad Cement, Surya Foods, P&A Bottlers, CRPL Infra, Vijaynagar Bio-tech, Coastal Corporation, Truism Resources, Wild Lotus Fashions, Flaminquo Sharimpex, Amasagar Sea Food, Jharana Steel Industries and Sabri Food Products.

Patnaik, who conducted the groundbreaking ceremony via video conferencing, said he is happy with the fast-paced progress of the investment plans.

State’s Aerospace & Defence Manufacturing Policy rolled out
The Odisha government on Saturday rolled out Odisha Aerospace & Defence Manufacturing Policy, 2018, ahead of the second edition of ‘Make In Odisha Conclave’ to be held from November 11 to November 15. The policy, which has been approved by the state cabinet, will be placed before investors at the conclave, an official said.

The policy aims at carrying forward the process of industrialisation through promotion of aerospace and defence manufacturing enterprises, to generate employment opportunities and promote value addition, he said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition