Odisha Approves INR 80,125 Crore Investment in Seven Key Industrial Projects

Bhubaneswar: In a major boost to Odisha’s economic landscape, the Chief Minister, Naveen Patnaik, chaired the 35th High-Level Clearance Authority (HLCA) meeting, approving seven significant industrial projects with a cumulative investment of INR 80,125.00 crores. This move is poised to create employment opportunities for approximately 24,552 individuals across diverse sectors, reinforcing Odisha’s position as a favorable destination for investments.

The approved projects span various sectors, including steel, green energy, pharmaceuticals, and chemicals, strategically positioned in Khurda, Jagatsinghpur, Jharsuguda, Ganjam, and Bhadrak. The ventures are set to enhance manufacturing capabilities and contribute to the overall economic development of the state.

Key Highlights of the Approved Projects:

Granules Life Sciences Pvt Ltd: The pharmaceutical unit at Tata SEZ, Gopalpur, Ganjam, will produce 4 billion units of paracetamol, metformin, ibuprofen, and other pharmaceutical products. With an investment of Rs. 1,100 Cr, it is expected to generate employment for 1480 persons.

Granules CZRO Private Limited: A green specialty chemical plant for pharmaceutical products at Tata SEZ, Gopalpur, Ganjam, with an investment of Rs. 2,000 Cr, creating employment opportunities for 1000 persons.

ACME Greentech Urja Private Limited: An integrated manufacturing unit for Solar PV from Silica in Khurda, attracting an investment of Rs. 36,000 crores and creating employment for 6,272 persons.

Waaree Clean Energy Solutions Pvt Limited: Setting up a 1.20 MMTPA Green Ammonia Plant in Jagatsinghpur, with an investment of Rs. 12,480 crores, employing 3,250 people.

EG Solwin Hybrid Private Limited: Establishing a 0.30 MT Green Ammonia production unit at Tata SEZ, Gopalpur, Ganjam, bringing in an investment of Rs. 6,330 crores and employing 1,050 people.

Action Ispat: Expanding steel production capacity from 0.37 MTPA to 7.5 MTPA, along with downstream and upstream facilities at Jharsuguda, with an investment of 21,000 crores and creating job opportunities for an additional 10,000 persons.

OFB Tech Private Limited: Setting up a manufacturing unit of Drums, Woven bags & Chemical complex at Dhamra in Bhadrak with a total investment of Rs. 1,615 crores, employing 1,500 people.

The Government of Odisha’s consistent support for businesses and investments is expected to propel the state’s economic growth, further establishing it as a premier choice for industrial development in Eastern India.