Odisha clears 20 projects worth Rs 76,612 crore, eyes over 50,000 job opportunities
Bhubaneswar, June 17 (IANS) The High-Level Clearance Authority (HLCA) on Wednesday approved 20 major industrial projects with a cumulative investment of Rs 76,611.86 crore, with the potential to generate 50,517 employment opportunities across nine districts of Odisha.
The investment proposals were approved during the 45th meeting of the HLCA held in Bhubaneswar under the chairmanship of Chief Minister Mohan Charan Majhi.
According to an official statement issued by the Chief Minister’s Office, the approvals reaffirm the state government’s commitment to industrial growth, advanced manufacturing, renewable energy, value addition and balanced regional development.
The projects span key sectors, including gemstone manufacturing, green energy equipment, aerospace and defence, rare earth minerals-based value-added products, pharmaceuticals, mechanical and electrical capital goods, chemicals, steel, iron and ferro alloys, and power and renewable energy.
A major highlight of the approvals is the emergence of Odisha as a significant destination for gemstone manufacturing.
A firm will establish lab-grown diamond manufacturing units in Khordha with a combined investment of Rs 9,817.50 crore, generating 8,100 employment opportunities.
The meeting also witnessed substantial investments in the green energy equipment sector.
A company will establish an ingot and wafer manufacturing facility along with a solar photovoltaic (PV) cell manufacturing unit in Ganjam with an investment of Rs 10,000 crore, generating 5,000 employment opportunities.
Further strengthening the sector, a solar firm will invest Rs 1,709.81 crore in a solar PV cell manufacturing facility in Ganjam, creating 519 employment opportunities.
Odisha’s focus on value addition in critical minerals received a significant boost with approvals for multiple projects in the rare earth minerals-based value-added products sector.
Another firm will invest Rs 1,250 crore to establish a high-performance electric vehicle (EV)-grade neodymium-iron-boron (NdFeB) magnet manufacturing unit in Khordha/Cuttack, generating 2,000 employment opportunities.
Besides, another company will invest Rs 2,400 crore in a sintered NdFeB permanent magnet manufacturing facility in Ganjam, creating 2,000 jobs.
Additionally, another firm will establish a titanium dioxide slag and titanium dioxide pigment manufacturing unit in Ganjam with an investment of Rs 2,800 crore, generating 1,500 employment opportunities.
The HLCA, at its 45th meeting, also approved several other major industrial proposals in the aerospace and defence, steel, iron and ferro alloys, power and renewable energy, and chemical sectors.
“As our government completes two years, Odisha has emerged as one of the leading investment destinations in the country. Through progressive policies, improved ease of doing business, strong infrastructure and proactive investor facilitation, we have been able to attract investments across both traditional and emerging sectors.
“Today’s approvals reflect growing investor confidence in Odisha and our commitment to creating employment opportunities, promoting industrial growth and ensuring balanced development across the state,” CM Majhi said.
–IANS
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