Investment activity by the India Inc is not yet broad based but limited to some pockets, states a research study by Bank of Baroda.
As part of its industrial growth initiative, the State Level Single Window Clearance Authority (SLSWCA) has approved eight investment proposals worth Rs 1872.11 crore.
The commissioning of these projects would lead to the generation of employment opportunities for over 3,461 persons in the state. The projects approved by the panel were from diverse sectors like Steel, Food Processing and Petroleum, said officials.
The SLSWCA chaired by Chief Secretary Suresh Chandra Mahapatra approved Jindal Coke Limited’s expansion proposal of its existing unit (Coke and Petroleum products Plant) at Kalinga Nagar Industrial Complex, Jajpur to double its production from 0.425 MTPA to 0.85 MTPA with an investment of INR 470 crore, which will generate potential employment opportunities for over 270 persons.
The SLSWCA gave a nod to Shyam Metalics and Energy Limited to set up a 0.108 MTPA Ferro Alloys plant (3×18 MVA) and a 50 MW CPP and Railway siding against an investment of INR 328.75 crore to be set up at Kalinga Nagar, Jajpur, which will generate potential employment opportunities for over 330 persons.
Similarly, it gave nod to GV Mines Minerals & Metals Private Limited’s 9 KM Iron Ore Pipe Conveying System of capacity 3 MTPA from Rodia-II mines to Bolani Railway Siding at Barbil, Dist – Keonjhar at an investment of INR 104.48 crore, which will generate potential employment opportunities for over 238 persons. Among others, the panel has cleared 4 Ethanol plants and a mechanized hatchery.
Apart from contributing green and alternate energy, these ethanol units will use locally sourced grains such as broken rice, maize, and other starch-containing grains as basic raw materials, providing a substantial income to local farmers of the state.
Besides laying emphasis on the heavy industries, the State government is also intent on providing impetus to employment-intensive sectors like food processing and textile to create massive employment in the state, added the officials.