The Odisha government has sanctioned investment proposals totaling ₹39,271 crore
OdishaPlus Bureau
The Odisha government has sanctioned investment proposals totaling ₹39,271 crore, which are expected to create employment opportunities for 17,098 individuals across a range of sectors. This approval was granted during a meeting of the High-Level Clearance Authority (HLCA), presided over by Chief Minister Mohan Charan Majhi on Wednesday, September 18, 2024. The HLCA endorsed 12 significant industrial projects.
The projects that received approval encompass areas such as electronics system design and manufacturing (ESDM), steel production, metal downstream processing, chemicals, cement, green ammonia and rubber/plastics. These initiatives will be implemented across eight districts: Khurdha, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore and Keonjhar.
First HLCA Meeting
This marks the inaugural HLCA meeting under the new administration. The government is dedicated to creating a conducive environment for industrial expansion and economic progress in Odisha. “Our objective is to establish Odisha as a leading investment hub within India. In the forthcoming five years, we aspire to draw industries from various sectors, thereby transforming Odisha into India’s industrial center,” stated Chief Minister Mohan Charan Majhi.
Emphasizing the State government’s efforts to enhance Odisha’s reputation as a business-friendly region, Mr. Majhi noted that the state places a high priority on industrialization and employment generation. “The current agenda underscores our determination to evolve into an industrial nucleus, with a total investment exceeding ₹39,000 crore across multiple sectors, which will facilitate the creation of over 17,000 job opportunities,” he remarked.
Three initiatives from the Electronics System Design and Manufacturing (ESDM) sector have received official approval. Silectric Semiconductor Manufacturing Private Limited has been authorized to establish a manufacturing facility for Silicon Carbide Devices, whereas Heterogeneous Integration Packaging Solutions Private Limited will create a plant dedicated to the production of glass substrates in wafer form for semiconductor packaging.
Khurda, Jagatsinghpur & Dhenkanal
Additionally, Kaynes Circuits India Private Limited has been approved for a manufacturing unit focused on the production of Printed Circuit Boards (PCBs). All these ventures are situated in the Khurdha district, collectively amounting to an investment of ₹6,355.50 crore and are expected to generate employment for 2,320 individuals.
In the chemical industry, Laxmi Organic Industries Limited plans to set up a manufacturing unit for synthetic organic chemicals in Jagatsinghpur, while Epigral Limited will also establish a chemical manufacturing facility in the same district. These projects together signify an investment of ₹5,355 crore and are projected to create 1,900 jobs.
In the metal downstream industry, Electrosteel Castings Limited plans to construct a manufacturing facility for ductile iron pipes with a capacity of 500,000 MT in Dhenkanal. Concurrently, Jindal (India) Limited will establish a processing plant for steel pipes in the same region, focusing on the production of ERW pipes.
Additionally, Bhushan Power and Steel Limited is set to develop a metal downstream complex in Sambalpur. Collectively, these three sanctioned projects will entail a total investment of ₹12,191 crore and are anticipated to create 5,570 job opportunities.
The steel sector will also witness investment from Shyam Steel Manufacturing Limited, which is launching a 0.5 MTPA integrated steel plant in Keonjhar, with an investment of ₹2,510 crore, projected to generate 3,640 jobs.
Cuttack, Ganjam & Balasore
In the cement industry, Ambuja Concrete North Private Limited (ACNPL) will establish a cement grinding unit in Cuttack, involving an investment of ₹1,400 crore and expected to employ 410 individuals. The green ammonia sector will see significant investment from Torrent Green Hydrogen Private Limited, which is initiating a green ammonia project in Ganjam, with an investment of ₹10,260 crore, anticipated to create 1,558 jobs.
In the rubber and plastics sector, Dalmia Bharat Refractories Limited will launch a manufacturing facility for tyres, tubes and flaps in Balasore, with an investment of ₹1,200 crores, potentially employing 1,700 people.
