Bhubaneswar, June 17 (IANS). Odisha’s high-level approval authority on Wednesday approved 20 mega industrial projects with a total investment of Rs 76,611.86 crore. These projects are likely to generate 50,517 employment opportunities in nine districts of the state.
These investment proposals were approved in the 45th meeting of the High-level Approval Authority held in Bhubaneswar under the chairmanship of Chief Minister Mohan Charan Majhi.
According to the official statement issued by the Chief Minister’s Office, these approvals reflect the state government’s commitment towards industrial growth, advanced manufacturing, renewable energy, value addition and balanced regional development.
These projects are in key sectors like gem manufacturing, green energy equipment, aerospace and defence, rare earth minerals based value added products, pharma, mechanical and electrical capital goods, chemicals, steel, iron and ferro alloys and power and renewable energy.
A major feature of these approvals is the emergence of Odisha as a major center for lab-grown diamond manufacturing.
A company will set up a lab-grown diamond manufacturing unit in Khordha, which will entail an investment of Rs 9,817.50 crore and create 8,100 employment opportunities.
Large investments have also been approved in the green energy equipment sector.
A company will set up a solar photovoltaic cell manufacturing unit with ingot and wafer manufacturing facility in Ganjam, which will entail an investment of Rs 10,000 crore and create 5,000 jobs.
Strengthening this sector, another solar company will set up a solar photovoltaic cell manufacturing facility in Ganjam at a cost of Rs 1,709.81 crore, which will create 519 jobs.
Many projects have also been approved in the field of critical minerals and value addition.
A company will set up a high-performance electric vehicle grade neodymium-iron-boron magnet manufacturing unit in Khordha/Cuttack at a cost of Rs 1,250 crore, which will provide 2,000 jobs.
Apart from this, another company will set up a Neodymium-Iron-Boron permanent magnet manufacturing facility in Ganjam with an investment of Rs 2,400 crore, which will create 2,000 jobs.
Under another project, a titanium dioxide slag and pigment manufacturing unit will be set up in Ganjam at a cost of Rs 2,800 crore, which will provide 1,500 jobs.
Many other projects related to aerospace, defence, steel, iron and ferro alloys, power and renewable energy and chemical sectors were also approved in this meeting of the high-level approval authority.
Chief Minister Mohan Charan Majhi said that on completion of two years of the government, Odisha has become one of the major investment destinations in the country.
He said that due to better policies, ease of doing business, strong infrastructure and investor convenience, investment in both traditional and new sectors has increased in the state.
He said that today’s approvals reflect the growing investor confidence in Odisha and the government’s commitment to employment generation and balanced development.
–IANS
AMT/DKP
