Odisha News Insight

Odisha Approves Five Mega Investment Proposals Worth Rs. 92,713 Crores

Odisha, on Thursday, approved five mega Investment Proposals worth Rs.92,713 crores in metal sector. The decision was taken at the 24th High Level Clearance Authority Meeting held under the chairmanship of Chief Minister Naveen Patnaik.

This is the single largest investment approval by the HLCA during the period of current Industrial Policies Resolution (IPR-2015). 

The five projects are –

  • Expansion project of Jindal Steel and Power Limited’s Integrated steel plant in Angul from 6 MTPA to 18.6 MTPA; 36 MTPA Slurry Pipeline and 12.5 MTPA cement plant
  • Expansion project of Jindal Stainless Limited’s Stainless Steel capacity from 1.1 MTPA to 3.2 MTPA and Cold Rolling Mill capacity from 0.8 MTPA to 2.4 MTPA
  • Essar Minmet Limited’s 14 MTPA Beneficiation & 14 MTPA Pellet Plant and 14 MTPA Slurry pipeline against an investment of Rs. 6650 crores to be set up in Keonjhar and Paradip.
  • Expansion project of Arcelor Mittal Nippon Steel India Limited’s Beneficiation Plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and Pellet Plant at Paradip from 6 MTPA to 12 MTPA.
  • Expansion project of Shyam Metalics and Energy Limited’s steel plant in Pandloi, Sambalpur from 0.77  MTPA to 2.373 MTPA and rolling mill against an investment of Rs. 1205 crores
  • The Chief Minister emphasised  on the importance of accelerating the growth of industries in the State and directed all agencies of the State Government to work in a coordinated manner to achieve the goals of rapid industrial growth leading to employment generation in the state.