Bhubaneswar, Dec 6 (KNN) The Odisha cabinet on Tuesday approved a proposal for development of a utility corridor between Gopalpur port and Tata Steel Industrial Park at Gopalpur.

The utility corridor will be set up at a cost of Rs 128.88 crore to provide logistics facilities for existing and upcoming industries.

As per reports, the cabinet meeting presided over by Chief Minister Naveen Patnaik, approved 10 proposals of different departments during its meeting.

Announcing the decisions, chief secretary PK Jena said the government has taken a futuristic initiative to cater to the demand of existing and upcoming industries in the Gopalpur industrial park for effective and economical logistics.

The project will be implemented through IDCO. The project cost includes construction and maintenance of the project during the defect liability period of five years besides the operation and maintenance period of 10 years.

At the meeting, the cabinet also approved a special incentive package for Welspun Group’s projects at Choudwar in Cuttack and Nilgungri in Sambalpur district. The Welspun Group has proposed to set up an integrated textiles manufacturing unit at Choudwar at a cost of Rs 3,000 crore and employment potential of 20,000 direct and indirect jobs.

Besides, the cabinet cleared the proposals for amendments to Odisha MSME Development Policy 2022 and Odisha Food Processing Policy, 2022 to help the MSMEs, which have received financial incentive from the Centre, avail the higher incentives offered in the state policy.

The amendment also aims to provide for reimbursement of stamp duty and land conversion premium for entrepreneurs. With this, MSMEs will be able to pay the duty and land conversion premium upfront to expedite their project execution and seek reimbursement later.

(KNN Bureau)