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Odisha clears Rs 1.10 lakh crore mega investment proposals

Bhubaneswar, June 2: The Odisha Government on Friday approved ten investment proposals entailing an estimated cost of Rs 1, 10,893.40 crore. These projects would generate employment opportunity for about 46,054 people.

Chief Minister Naveen Patnaik-headed high-level clearance authority (HLCA) approved the investment proposals in various sectors.

JSW Steel Limited of Jindal Group, a leading manufacturer of integrated steel would set up a mega steel project of 10MT capacity in Paradip in Jagatsinghpur district with an investment of Rs 50,000 crore. It guarantees employment facility for nearly 30,000 youths.

The proposed JSW project would come up on the land allotted to Korean steel major Posco. Posco had already withdrawn from its steel project in the district and handed over about 1,700 acres of land to the State Government.

While NLC Thermal Power would set up 3200 MW power and steel project in Jharsuguda with an investment of Rs 23,589.60 crore, Bhusan Power and Steel Ltd would develop 5.50 MTPA project in Jharsuguda (Rs 4,252.40 crore), Deepak Fertilizers and Petrochemicals would set up a 3,30,000 MTPA technical ammonium Nitrate (Rs 1,750 crore), NMDC Pellet Plant would develop a 2 MTPA project at Dhamra (Rs 1,810 crore).

The HLCA further approved the expansion proposals of fours. These projects include, Nalco Smelter Expansion (0.50 MTPA) at Angul with an investment of Rs 10,000 crore with job assurance to 5,700 persons, Nalco Refinery Expansion (1.0MTPA) at Damanjodi with an investment of Rs 4,357.20 crore with 900 job guarantees, Rs 9,459.17 crore PPL’s urea plant expansion at Paradip with employment opportunity to 2,667 and OCL’s 2.25 MTPA cement factory expansion project at Rajgangpur. Rs 1,994.98 crore would be invested for this project which would generate job opportunity to 365.

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