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Odisha Approves Fresh Investments Worth Rs 1.10 Lakh Crore

The projects approved by the HLCA include those by JSW Steel, Paradeep Phosphate, OCL India, NLC India, National Aluminum Company, Bhusan Power & Steel, National Mineral Development Corporation, JSW Infrastructure and Smartchem Technologies.

Photo Credit : Shutterstock

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The High Level Clearance Authority (HLCA), chaired by Odisha Chief Minister Naveen Patnaik, has approved 10 proposals worth more than Rs 1.10 lakh crore which will create nearly 46,000 jobs in the state.

Chief Minister, Naveen Patnaik said, in a statement, “We are extremely pleased to have received firm commitments for more than 50 percent of the investment intents received during the Investors' Meets held last year at Mumbai, Bengaluru and Bhubaneswar.”

“Our priority now is on-ground implementation of these projects to create additional employment opportunities for our people. Our policy and the business ecosystem are among the best in the country and we shall strive to improve them further.”

The projects approved by the HLCA include those by JSW Steel, Paradeep Phosphate, OCL India, NLC India, National Aluminum Company, Bhusan Power & Steel, National Mineral Development Corporation, JSW Infrastructure and Smartchem Technologies.

Following the Make in Odisha Conclave in Bhubaneswar and Odisha Investor’s Meets in Mumbai and Bengaluru, the state received investment intent of Rs 3.6 lakh crore through a total of 124 projects.

The government has already received firm commitment for 71 projects. This is one of the highest and fastest rates of conversion of investment intent into commitment anywhere in the country.

With a large number of industries evincing interest to start operations in Odisha, the state government has decided to focus on rapid on-ground implementation of these projects.

A geographic information system (GIS) enabled land bank of 100,000 acres has been created to ensure ready availability. In the next quarter, groundbreaking and inauguration of more than 10 industrial projects are planned in various districts across the state.




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