INVESTMENT MILESTONE: ODISHA APPROVES FOURTEEN PROJECTS WORTH INR 1713.65 CRORES POISED TO CREATE 5,134 EMPLOYMENT OPPORTUNITIES

Bhubaneswar(10/01/2023): Odisha is undergoing a transformative economic evolution as the 127th State Level Single Window Clearance Authority (SLSWCA) meeting, chaired by Chief Secretary Pradeep Kumar Jena approved fourteen groundbreaking projects valued at INR 1,713.65 crores.

These diverse investments are poised to reshape Odisha's economic landscape, solidifying its position as a premier investment destination. In a landmark decision, the SLSWCA has green lit a series of projects spanning various sectors, including metal downstream & ancillaries, power, pharmaceuticals, plastics, food processing and tourism.

With a total employment generation potential of 5134 and a cumulative investment of INR 1,713.65 crores across seven districts, these ventures are expected to significantly contribute to the state's economic development. The state is set to witness a surge in steel ancillary ventures with Neo Industries Metal Processing Pvt.Ltd's project worth Rs 72.00 crores that will churn employment opportunities to 50 individuals.

The project is set to involve chrome plating, grinding, and texturing for a steel unit, boasting a capacity of 16,000 units in two phases, in Jajpur.

In the stainless steel & ferro alloys sector, Anand Exports takes the spotlight with its comprehensive expansion initiative in Jajpur.

The project encompasses the augmentation of ferrochrome unit capacity of 0.038 MTPA.

The investment of Rs 628.00 Crores is set to generate employment for 2,828 individuals. Asoka Sky Metals Pvt.Ltd is set to establish metal downstream unit.

This venture, situated in Kalinga Nagar at Jajpur, comes with a project cost of Rs 101.00 crores and an employment potential of 105, further enhancing the steel downstream sector. Odisha's tourism sector is in for a significant boost with the approval of luxury resorts and hotels - Mahindra Holidays and Resorts’s project encompasses setting up a mesmerising luxury resort at Sonapur Beach near Bahuda River Mouth investing Rs 228.45 crores and creating employment opportunities for 150 in Chikiti, Ganjam. T S Beach Resorts Private Limited aims to redefine hospitality with a Convention Centre And 4 Star Hotel at Puri, with an investment of Rs 132.16 crores and providing employment opportunities for 250 individuals in Sipasarubali, Puri.

Meanwhile, Hotel Rashmi Plaza Opc Private Limited adds to development in this sector with a 4-Star Hotel at Jharsuguda, featuring a project cost of Rs 70.74 crores and an employment potential of 210 new jobs.

Jindal Stainless Limited aims to contribute to renewable energy with the establishment of a 23.02 MW Captive Roof-Top Solar Power Plant in Jajpur.

With a project cost of Rs 110.24 crores, this initiative is expected to generate employment for 60 individuals. Acechem Remedy Private Limited ventures into pharmaceuticals with the Manufacturing Of Tablets, Capsules Ointments And Liquid Oral in Kurki, Puri.

This project, with a cost of Rs 53.00 crores, is anticipated to provide employment for 163 individuals. Best Power Equipments India Private Limited adds diversity with its project to set up a unit for manufacturing of UPS System And Batteries in khurda.

With a project cost of Rs 52.75 crores, this initiative is set to generate employment for 350 individuals. In the food processing sector, Oribake Private Limited is set to enhance the food processing sector with its manufacturing unit for biscuits and other baked products in Tangi-Choudwar, District –Cuttack.

With a cumulative capacity of 60,000 MT per annum, this Rs 51.80 crores project is set to create employment for 280 individuals.

Sun Agro Foods contributes to the food processing landscape with its Modern Rice Mill project in Jajpur.

With the project cost of Rs 50.43 crores, this initiative is expected to generate employment for 98 individuals. SMVD Poly Pack Limited focuses on the plastics sector with its Manufacturing Unit For PP/ HDPE bags and sacks in Jagatsinghpur.

With an annual capacity of 10,500 MT, this Rs 61.30 crores project is set to create employment for 215 individuals. Techcon India Pvt.Ltd aims to make strides in plastics with its manufacturing unit of Injection moulding plastic products in Khurdha.

With a project cost of Rs 51.00 crores, this initiative is anticipated to generate employment for 300 individuals.

Mediaid Marketing Services Private Limited is set to establishment of a 7.2 Lakh Nos/Day Syringe Production Unit in Ramdaspur, Cuttack.

With a project cost of Rs 50.78 crores, this initiative is expected to provide employment for 75 individuals. In a collective effort, these fifteen transformative projects, with a cumulative investment of INR 1,713.65 crores, are poised to create 5,134 employment opportunities, paving the way for enhanced industrial growth and economic prosperity in Odisha. Chief Minister Naveen Patnaik's effective leadership is turning Odisha into a sought-after global investment destination and his visionary approach and dedication to sustainable and inclusive growth set a remarkable standard for the state's overall development.