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Back on Track! Amid Covid Fight! Government of Odisha clears Six proposals worth over Rs. 9000 Crore

CM sets up Inter-Ministerial Committee to bring Industries, MSMEs back on track
  • Six investment proposals totaling Rs 9100.29 crore cleared. 
  • Employment to more than 6525 people will be generated.
  • Includes 2 Investment proposals of M/s Rungta Mines Limited and M/s Dhunseri Ventures Limited totaling Rs 8850.19 crore.

Bhubaneswar, April20, 2020 –While continuing its fight against the spread of COVID-19 with a systematic approach and pre emptive action, the Government of Odisha gears up to propel the industrial activity and employment generation in the state. The 22nd High Level Clearance Authority (HLCA) meeting today held under the Chairmanship of Chief Minister Naveen Patnaik approved two investment proposals worth Rs. 8850.19 crore with an employment potential of 5250 people.

In this meeting, Chief Minister Shri Naveen Patnaik announced to set up an inter ministerial committee to look into the issues of bringing industries and MSMEs in the current pandemic situation and recommend appropriate suggestions for bringing them back on track. The Ministers who are members of HLCA will be the members of the inter-ministerial group. The CM announced this at the State HLCA meeting which was convened today. Finance Minister Shri Niranjan Pujari, Energy Minister Shri Sushant Singh, Steel & Mines Minister Shri Prafulla Mallick, and Minister of State, Industries & MSME, Shri Dibya Shankar Mishra will be the members of this group.

This was preceded by the 91st State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Shri Asit Kumar Tripathy, Chief Secretary, Government of Odisha which approved four more investment proposals worth Rs. 251.09 crore outlined by Shri Hemant Sharma, Principal Secretary, Department of Industries, Government of Odisha. These proposals spread across Sectors like Metal & Metal Downstream, Textile & Apparel and Logistics & Infrastructure are likely to generate employment for about 1275 people. This also includes an investment from a Chinese sports shoe manufacturing company.

The HLCA approved two investment proposals which included the following:
The proposal of M/s. Dhunseri Ventures Limited for setting up Maleic Anhydride manufacturing unit with annual capacity of 60,000MT at Paradeep, with a total investment of Rs. 1013.29 crore providing employment to 350 people.

The proposal of M/s Rungta Mines Limited (RML) for setting up an expansion of its Integrated Steel Plant project from 0.9 MTPA to 2.85 MTPA capacity, with Captive Power Plant of 385 MW and 1.69 MTPA Cement Plant (in two phases) at- Jharbandh, District-Dhenkanal with a total investment of Rs. 7836.90 crore providing employment of about 4900 people has also been approved by HLCA.

The SLSWCA approved four projects which included the following: 

In the Footwear sector, the proposal of M/S Niren Kumar Anand, for setting up Footwear manufacturing unit of capacity 1 Million pieces with an investment of Rs. 62.44 crore and employing around 620 people. This project is first of its kind in the state and has immense potential for further employment generation. 

The proposal of M/s Kashvi International (P) Limited to set up an additional 1.2 MTPA Iron Ore beneficiation Plant to its 0.6 MTPA Iron Ore Pelletization Plant, with an investment of Rs. 55.23 crore and providing employment to about 50 people. 

In a big boost to the State’s Metal Downstream sector, the proposal of M/s Purosteel India Pvt. Ltd is to set up a manufacturing unit such as tubes & Pipes PVD Coating, furniture fabrication, finished sheets & profiles, trimes plant with an investment of Rs. 53.42 crore providing employment opportunities for 200 people. 

The proposal of M/s Odisha Carriers and Trade for setting up three logistics Park cum Fulfillment centres, with an investment of Rs. 80 crore and it will provide an additional employment opportunities for 405 people.

About Odisha
Located on the east coast of India, Odisha has a coastline of 480 kms along the Bay of Bengal. The modern State of Odisha was formed on 1 April, 1936 but its history dates to the era of Kalinga mentioned in the Mahabharata. Over the years the state has maintained a unique cultural identity distinct from all of its neighbouring States. Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth. The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State. This website is a one-stop location for all such information.

About IPICOL: 
Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State. IPICOL is responsible for devising the investment promotion, facilitation and aftercare strategy for the state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha undertakes all activities to promote Odisha as the investment destination of choice

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