Odisha Government Approves Eight Projects with Over Rs 1,397 Crore Investment
In a significant move to boost economic development and create job opportunities, the Odisha government has given the green light to eight projects with a cumulative investment proposal exceeding Rs 1,397 crore across six districts. The State Level Single Window Clearance Authority, in its latest meeting, granted approval to these projects, signaling a positive trajectory for industrial expansion in the state.
The largest among the approved ventures is the proposal by Sintex BAPL Ltd to establish plastic pipes and tank manufacturing unit in Sambalpur district. With an impressive investment of Rs 479.47 crore, this project is poised to not only contribute to the state’s industrial landscape but also generate employment opportunities for the local populace.
Hindalco Industries Ltd, a key player in the metal and mining industry, has received approval for its Rs 241.05 crore investment plan to set up a white-fused alumina manufacturing unit in Sambalpur district. This strategic move aligns with the state government’s vision to diversify its industrial base and tap into emerging sectors.
Balasore district will witness the establishment of a significant manufacturing unit as HIL India’s proposal to invest Rs 250 crore in a pipe manufacturing unit has been given the go-ahead. This initiative is expected to not only boost the local economy but also contribute to the infrastructure development of the region.
Several other projects have also received approval, showcasing the diverse range of industries set to flourish in Odisha. Mega Flex Plastics Ltd, Sandhu Tubes Pvt Ltd, KAI Steel Pvt Ltd, Anuj Autograph Business Park, and GGL Chalet Pvt Ltd have received the government’s nod with investment proposals ranging from Rs 62.38 crore to Rs 105.30 crore.
The collective investment of Rs 1,397.18 crore is expected to catalyze economic growth and development across the state. The projects are anticipated to create employment opportunities for approximately 2,860 people, providing a significant impetus to the state’s workforce.
The Odisha government’s proactive approach in facilitating these investments underscores its commitment to fostering a business-friendly environment. The State Level Single Window Clearance Authority’s efficient processing of these proposals reflects the government’s dedication to streamlining administrative procedures and promoting ease of doing business.