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25/07/2018 11:09am

Odisha govt approves four investment proposals worth Rs 348.5 crore

image Odisha govt approves four investment proposals worth Rs 348.5 crore

New Delhi, July 25 (KNN) Odisha Chief Secretary Aditya Prasad Padhi accorded in principal approval to four investment proposals worth Rs 348.5 crore.The proposed projects mainly include the pharmaceutical, textile, downstream industries in metal and mineral sectors.

The approval was given at the State-Level Single-Window Clearance Authority meeting chaired by the Chief Secretary with a view to create more employment opportunities in the state.

The approved project included Kolkata based pharmaceutical company which will be set up for production of intravenous fluids at Ramdaspur of Cuttak district with an investment of Rs 64.95 crore.

The plant, with a production capacity of 6.36 crore bottles per annum, will be the first such manufacturing unit in the pharmaceutical industry in Odisha.

An apparel industry will be set up by a Kerala-based apparel manufacturer at the Tata Steel's special economic zone at Gopalpur in Ganjam district.

Besides, the two aluminium downstream units will be set up at the Angul Aluminium Park being developed as an exclusive state-of-the-art industrial park for ancillary and downstream industries for alumina and aluminium.

A leading Mumbai-based manufacturer of aluminium conductors will establish a greenfield manufacturing unit at the Park at an investment of Rs 56.3 crore with a capacity of 40,000 metric tonnes per annum.

The second project will be set up by a Rajasthan-based cable company that proposed to establish a 30,000 metric tonnes per annum (MTPA) manufacturing plant to produce aluminium conductors at an investment outlay of Rs 50.30 crore.

The fourth proposal which received the government nod was the 300th proposal received by GO-SWIFT portal of the Odisha government from a leading Kerala-based apparel manufacturer a few days ago.

 The leading exporter has committed to invest Rs 177 crore to set up a unit for knitting, fabric processing and garment manufacturing at Tata Steel's special economic zone at Gopalpur in Ganjam district.

The industrialization move is a part of the state government's Vision 2025 which aims at attracting 2.5 lakh crore of fresh investment and generating 30 lakh job opportunities.

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