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Odisha clears two investment projects worth Rs 224 crore

Bhubaneswar, Sep 29: The State Government on Thursday cleared two investment proposals worth Rs 224 crore.

The Single Window Clearance Authority Meeting held today under the chairmanship of Chief Secretary Aditya Prasad Padhi approved the proposal of the Indian Farmers Fertilizer Cooperatives (IFFCO) and Well Spun Odisha Steel Pvt Ltd.

IPICOL General Manager Kalayan Mohanty told reporters that the IFFCO project proposal for setting up a railway siding at the new Paradeep station yard was approved at the meeting. The project envisages an investment of Rs 63.55 crore and employment to around 97 persons and is targeted to be completed in 14 months.

Around 49 acre of land required for the siding has also been identified. The IFFCO would also allow other companies to use this siding.

The project proposal of Welspun Odisha aims to set up a 0.27-MTPA long product (steel) facilities centre at Dosingha near Dhamra of Bhadrak district. The proposal envisages investment of Rs 160.15 crore and employment to around 915 persons. The land required for the purpose is around 40 acre.

In another development, the Chief Secretary reviewed the status of the investment proposals mobilised in the ‘Make in India’ week in Mumbai on February 14 and 15 and the Odisha Investors Meet in Bengaluru on August 25 and 26.

From among the Mumbai investors’ meet, so far 14 project proposals envisaging investment of around Rs 70,959 crore has been mobilised. Meanwhile, two companies, Geetanjali Exports and Deepak Fertilizers, have already grounded their projects. Similarly, from among the investors’ meet in Bengaluru, 26 companies have been mobilised to submit detail project proposals envisaging investment of around Rs 90,670 crore. Two companies have also scheduled the grounding of their projects during November 2016.

The Chief Secretary advised Principal Secretaries and Secretaries of respective departments to fasten the investment intentions through facilitating support. All line department Secretaries were present in the meeting.

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