Odisha sanctions 11 investment proposals of Rs 2,253cr

BHUBANESWAR: The government of Odisha has approved 11 investment proposals valued Rs 2,253.15 crore which will generate employment opportunities for 3,817 people, officials said on Thursday, August 5.

A number of industrial projects from varoius industries, including steel, food processing, infrastructure, oil and gas, downstream aluminium, information technology, and electronic system designing and manufacturing, have been approved by the state level single window clearance authority (SLSWCA), which is led by Chief Secretary S.C. Mahapatra.

According to Hemant Sharma, senior secretary for industries, the units will stimulate economic activity in their respective regions by creating a large number of indirect employment possibilities because the majority of the proposals are from the industrial and downstream sectors.

The Fedders Electric and Engineering Limited's proposal to build an iron ore beneficiation facility in the Sundargarh area for Rs 533.25 crore has been approved by the government.

The panel also endorsed Envirocare Infrasolution Pvt Ltd's proposal to build a pellet beneficiation and ferro alloy facility in Sundergarh at an investment of Rs 520 crore.

Similarly,  Adani Enterprises Limited has proposed to invest Rs 500 crore in the construction of a data center delivering cloud hosting services in the Khurda district. The SLSWCA of Odisha also agreed with this suggestion.

During the meeting, the government among others approved an investment proposal from Arya Iron and Steel Company Pvt Ltd for Rs 175.75 crore. The top secretary has requested that the respective departments actively facilitate the approved units' quick execution.

RBI’s MPC hikes policy rate by 50 bps to counter inflation

RBI MPC meet Updates: Repo rate hike on the cards

Entities in rush to raise funds via CP ahead of RBI Policy


- Sponsored Advert -

Most Popular

- Sponsored Advert -