Rs. 328 Cr Investments Projects Approved by Odisha

The Odisha government approved five investment proposals worth Rs 328 crore that will create employment opportunity for 1,674 people.

The government's nod to these projects came during the 76th meeting of State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of chief secretary A.P. Padhi.

The government approved the proposal of setting up a manufacturing unit with a capacity to produce 35,000 tonnes per annum aluminium alloy conductors as well as alloy wires and rods at Angul Aluminium park.

With an investment of Rs 75 crore, the project will help create direct and indirect employment for 425 people, said an official.

Another downstream project for setting up a manufacturing plant to produce 33,500 tonnes per annum aluminium and alloy downstream products at Angul Aluminium Park also received SLSWCA's nod.

The project entails an investment of Rs 56.87 crore and would provide employment to 250 people, he added.

In a bid to support downstream players setting up units in Angul Aluminium Park, the state government is giving a discount of Rs 10 lakh per acre towards the land cost, while NALCO is offering a price discount of Rs 4,000 per tonne on aluminium ingots and Rs 5,000 per tonne on molten metal, said a release.

Such initiatives are making the business ecosystem in Angul Aluminium Park more lucrative for the investors.

A proposal to set up a poultry processing plant at Khordha industrial area and a poultry pellet feed plant at Sea Food Park, Deras also got the nod of the state government.

Another pellet feed plant, proposed to be set up at Bhadrak by the same firm, was also given clearance with a cumulative investment of Rs 50.27 crore. The three units, together, would provide employment to 486 people, the release said.

SLSWCA also cleared a proposal to set up 30,000 tonnes per annum vegetable oil manufacturing unit at Khordha industrial area. The project entails an investment of Rs 91.45 crore and will create employment for 384 people.

During the 76th meeting of the SLSWCA, a proposal related to setting up a four-star hotel at Cuttack with an investment of Rs 54.50 crore was also given nod. The project will create an employment opportunity for 129 people.