BHUBANESWAR: The government of Odisha has accorded in-principle approval to five majour industrial projects worth Rs 1,46,172 crore in the sectors of metal and metal downstream.

The proposals were approved by the High-Level Clearance Authority (HLCA) headed by Chief Minister Naveen Patnaik, the Chief Minister's Office (CMO) said. These projects, upon grounding, is expected generate employment for 26,959 people.

Notably, the state government has approved the expansion of Bhushan Power and Steel Limited's integrated steel plant at Rengali in Sambalpur district. The company has proposed to enhance its capacity from 5 million metric tonne per annum (MMTPA) to 15 MMTPA with an investment of Rs 55,000 crore, which will have the potential to generate employment opportunities for over 10,000 persons, it said.

Expansion of Tata Steel Limited's crude steel production from 3 MTPA to 8 MTPA, hot rolled coil from 3 MTPA to 7 MTPA, 2.2 MTPA cold-rolled products and 2 MTPA long products were also approved by the panel. The firm proposed to invest Rs 47,599 crore to set up these projects at its plant at Kalinga Nagar in Jajpur district. These projects have potential employment opportunities for over 4,625 persons.

The state govt has also approved the expansion of Jindal Steel and Power Limited's 6 MTPA existing integrated steel plant in Angul from the proposed capacity of 18.6 MTPA to 25.2 MTPA against an investment of Rs 24,652 crore.

Jalan Kalrock Consortium to infuse Rs1,375 cr in Jet Airways

Second Covid hits Household debt 37.3 percent of GDP in FY21: SBI Report

'FDI' figures presented by Piyush Goyal on 'right track' even during corona period