Odisha govt okays proposals worth Rs 9,000 crore to revive economy amid COVID-19

Odisha govt

The Odisha government has Okayed several investment proposals worth Rs 9,000 crore for bringing the crisis hit economy amid the Covid-19 pandemic.

Odisha govt

As India remains anxious about the economic impact of Covid-19, Odisha is already initiating several positive measures by clearing investment plans in a bid to protect the state from extreme economic distress due to the pandemic.

The state government cleared a total of six investment proposals amounting to Rs 9,100 crore. A communiqué said that the proposals will be offering employment to over 6,500 people in the state.

The High-Level Clearance Authority (HLCA) formulated under the chairmanship of Chief Minister Naveen Patnaik on Monday gave nod to six investment proposals, which would together give employment opportunities to 6525 people.

More than Rs 8,850 crore has been directed towards two investment plans while four other smaller investment plans were announced as well.

The two investment proposals as follows:

1) Dhunseri Ventures Limited proposed setting up a Maleic Anhydride manufacturing unit with an annual capacity of 60,000 MT at Paradeep, district Jagatsinghpur with a total investment of Rs 1013.29 crore. This will be providing employment opportunities for 350 people.

2) Rungta Mines Limited (RML) proposed setting up an expansion of its Integrated Steel Plant project from 0.9 MTPA to 2.85 MTPA capacity, with CPP of 385 MW and 1.69 MTPA Cement Plant (in two phases) at Jharbandh, District-Dhenkanal. The total investment needed for it is Rs 7836.90 crore and it will be offering employment opportunities to 4,900 people.

For now, four other planned projects were also cleared by the State Level Single Window Clearance Authority. In total, the four projects are likely to get over 1,200 jobs.

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