Odisha News Insight

Odisha Govt approves Rs.41,900 crore Investment Proposals

Naveen-OdishaBhubaneswar, Sep 29: The Odisha government on Tuesday approved seven big investment proposals worth Rs.41,900 crore including foreign direct investment (FDI) by a Japanese company.

The High Level Clearance Authority (HLCA) chaired by Odisha Chief Minister Naveen Patnaik cleared seven investment proposals, which will provide direct employment to some 4,450 people.

The panel approved a proposal of JGreen Power Private Ltd for a 423 MW liquefied natural gas (LNG)-based power project at Dhamra in Bhadrak district.

The Japanese company will set up the eco-friendly project with an investment of Rs.3,106 crore, said Odisha Industry Minister Debi Prasad Mishra.

Mahanadi Basin Power Ltd, a wholly owned subsidiary of Mahanadi Coalfields Ltd (MCL), has proposed a pit head 2X800 MW coal based thermal power plant at Basundhara in Sundargarh district at an investment of Rs.8,000 crore, said Mishra.

The HLCA also approved the proposal of Tata Power Ltd for change of location from Naraj Marthapur in Cuttack district to Begunia in Khurdha district for a 1,320 MW coal based thermal power plant with an investment of Rs.7,500 crore.

CESC Ltd has proposed to enhance the capacity from 1,000 MW with super critical units at Neulapoi village in Dhenkanal district with an investment of Rs.6,861.84 crore, said the minister.

The HLCA also approved three expansion proposals of Bhusan Power and Steel, Ardent Steel and Utkal Alumina.

While Bhusan Power and Steel proposed for expansion of steel making capacity from 2.80 million tonne per annum (mtpa) to 5.5 mtpa at Telkoi in Sambalpur district with an investment of Rs.4,837.60 crore, Utkal Alumina International Ltd has proposed for expansion of its refinery capacity from 1 mtpa to 1.5 mtpa at Doraguda in Rayagada district, said the minister.

It has also proposed for expansion of captive power plant from 50 MW to 90 MW. Utkal Alumina will invest Rs.7,563.70 crore for both projects.

Ardent Steel Ltd will expand its existing iron ore pelletisation plant from 0.60 mtpa to 1.80 mtpa and addition of iron ore beneficiation plant of 3 mtpa and DRI plant of 0.60 mtpa in Keonjhar district.

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