Odisha clears INR 47,569 cr investments; to include power and downstream aluminium projects

In a bid to re-position itself as an investor friendly state, Odisha approved investment proposals worth INR 47,569.41 crore. The nod was given to 35 proposals spanning a cross section of industries including power, aluminium, food processing, healthcare, and logistics.

The projects approved promise an employment potential of 11,738.

Bahrain based Midal Cables got the nod of the State Level Single Window Clearance Authority (SLSWCA) for setting up a rod and wire conductor unit at a cost of INR 350 crore. The downstream unit is coming up at the aluminium park at Angul, jointly developed by National Aluminium Company (Nalco) and state owned Odisha Industrial Infrastructure Development Corporation (Idco).

In the power sector, the state government okayed the plan by Mahandai Aban Power Company Ltd to expand capacity of its power plant from 1,030 Mw to 1,320 Mw. The project cost is pegged at INR 8,000 crore. The expansion plan of RPG Group controlled CESC Ltd to expand capacity of its proposed project from 1,000 Mw to 130 Mw also got the nod of the government. But, since the forest clearance is still pending, no land has been transferred to the company yet by Idco.

Odisha also got its maiden gas based power plant proposal from JGreen Power Pvt Ltd. The 423 Mw LNG based power station has been proposed at Dhamra and is estimated to cost INR 3,106 crore.