Largest ever investment approved in IPR-2015
BHUBANESWAR (ODISHA): The Government of Odisha continues to propel employment opportunities and boost industrialization in the state. According to approval to five mega investment proposals worth Rs. 92,713 crores which will create potential employment for 31,979 persons today, Odisha created a record of highest ever investment approved under IPR-2015.
The 24th High-Level Clearance Authority (HLCA) meeting held under the Chairmanship of Hon’ble Chief Minister Shri Naveen Patnaik via video conference today, further strengthened the predominance of the state in the metal and metal downstream sectors by attracting mega investments.
The details of the five projects for which in-principle approval was accorded by HLCA are listed below:
These investment proposals encompass the entire value chain in the metal sector starting from beneficiation to manufacturing of pellets, iron, steel, stainless steel, rolled products as well as cement utilizing waste products like slag and fly ash from other industries.
The projects are also spread over western, central, and coastal Odisha providing employment opportunities across various skill levels.
This is the single largest investment approval by the HLCA during the period of the current Industrial Policy Resolution (IPR-2015).
Despite the COVID-19 pandemic situation and the economic slowdown across the globe, Odisha strengthens its Industrial development and investment activities. The state has attracted over Rs. 1,18,750 crores worth of new investments with potential employment opportunities for over 53,258 persons since February 2020.
While chairing the HLCA meeting, Hon’ble Chief Minister reiterated the importance of accelerating the growth of industries in the State and directed all Departments to work in a coordinated manner to achieve the goals of rapid industrial growth leading to employment generation in the state.
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