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Odisha Approves INR 4,066.71 Crore Investment Across 22 Pioneering Projects, Fostering Economic Resurgence

Bhubaneswar: Odisha is entering a new era of economic transformation as the 129th State Level Single Window Clearance Authority (SLSWCA) meeting, presided over by Chief Secretary Pradeep Kumar Jena, IAS, gives the green light to 22 projects valued at INR 4,066.71 Crore. This strategic move is set to reshape the economic landscape of Odisha, reinforcing its standing as a premier investment destination.

In a groundbreaking decision, the SLSWCA has approved 22 diverse projects spanning sectors such as Green Energy Equipment, Chemicals, Textiles and Apparel, Steel, Iron & Ferro Alloys, Aluminium Downstream, Food Processing, Power & Renewable Energy, IT Infrastructure, and Infrastructure & Logistics. These projects, with a cumulative investment of INR 4,066.71 crores, are expected to significantly contribute to the state’s economic development.

The approved projects cover various sectors, promising extensive employment opportunities and a positive impact on Odisha’s industrial growth. Key highlights include Waaree Clean Energy Solutions Pvt Limited’s Electrolyser Manufacturing Plant in Khordha for Green Energy, Shalimar Paints Limited’s Paints Varnish project in Balasore, and Reliance Bio Energy Limited’s projects on Compressed Biogas and Fermented Organic Manure in Dhenkanal and Cuttack.

In the Textile and Apparel sector, OFB Tech Private Limited is set to contribute significantly with its project on Mens and Women’s casual top and bottom wear, denim jeans, knitted apparel for women, men, and kids, along with leather products. This project, located in Khurdha, comes with a substantial investment of Rs. 857 crore and a potential job creation of 15,000.

The Food Processing sector sees Bajrangbali Minmet Pvt Ltd. venturing into instant pasta and vermicelli production in Sundargarh, with an investment of Rs 52.10 crore. Additionally, OFB Tech Private Limited is set to produce maize starch powder, maize germ, maize gluten, bran fibre, and enriched bran fibre in Nabarangapur, contributing Rs 150 crore and potentially employing 400 people.

In the Power & Renewable Energy sector, Hindalco Industries Limited invests in Solar PV Power in Koraput with Rs. 200 crores and 80 potential job opportunities. Tata Steel Limited ventures into a 22 MW Solar PV Power Plant in Sundargarh, investing Rs. 125.69 crores and offering job employment to 23 individuals. Adani Total Energies Biomass Limited is set to produce compressed biogas in Sambalpur, with a project cost of Rs 136.50 crore and potential employment for 180 people.

The IT Infrastructure sector welcomes Pine Square LLP and A K Das Associates Ltd., unveiling IT Parks (Own Land) in Khordha with projects costing Rs. 110 crores and Rs. 51.62 crore, respectively, and providing jobs to 250 and 61 individuals, respectively.

Further, Geo Impex and Logistics Pvt. Ltd. diversify its portfolio with a manufacturing unit in Chatrapur, Ganjam, investing Rs. 207 crore and generating employment for 4,650 individuals. Koli Commercial LLP introduces its project on Coal Transportation through Railway Siding in Angul, with an investment cost of Rs. 77.12 crore and offering employment to 182 individuals.

Cabcon India Limited’s plan to produce 72,000 MT cable conductors in Jharsuguda for the Aluminium Downstream sector comes with a project cost of Rs 100 crore and 1000 job opportunities. Rice Lake Weighing Systems India Limited invests in Material Handling Systems, with a project cost of Rs 51 crores and potential employment to 65 people in Khurdha.

In a collective effort, these 22 transformative projects are poised to create 25,525 employment opportunities, paving the way for enhanced industrial growth and economic prosperity in Odisha. This investment surge aligns with Chief Minister Naveen Patnaik’s vision, propelling Odisha towards becoming a global investment destination and setting a high standard for overall development in the state.

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