ODISHA ACCELERATES ECONOMIC GROWTH WITH 35TH HLCA APPROVING 7 KEY INDUSTRIAL PROJECTS WORTH INR 80,125.00 CRORE

Bhubaneswar(07/03/2024): Odisha is making big strides in its economic growth journey with the approval of seven important industrial projects during the 35th High-Level Clearance Authority (HLCA) meeting.

Led by Chief Minister Naveen Patnaik, the Government of Odisha has given the green light to investments totalling INR 80,125.80 crore.

This substantial investment is expected to create jobs opportunities for 24,552 people in different sectors. These projects cover various sectors including steel, green energy, pharmaceuticals, and chemicals.

These projects are strategically located in Khurda, Jagatsinghpur, Jharsuguda, Ganjam, and Bhadrak, enhancing Odisha's manufacturing capabilities and boosting the state's economic development. Granules Life sciences Pvt Ltd is a leading producer of paracetamol in India is setting up its pharmaceutical unit at Tata SEZ, Gopalpur, Ganjam.

The company will produce 4 billion units of paracetamol, metformin, ibuprofen and other pharma products.

Granules will invest Rs.1,100 Crore in this Ganjam plant which will generate employment for 1480 persons. Granules CZRO Private Limited, will also set up a green speciality chemical plant for its pharmaceutical products like Para Amino Phenol, DCDA & DMA HCL.

This plant will be setup at Tata SEZ, Gopalpur, Ganjam with an invest of Rs.2,000 Crore and will create employment opportunity for 1000 persons. ACME Greentech Urja Private Limited will setup an Integrated manufacturing unit from Silica of Solar PV.

This green energy facility will attract Rs.36,000 crores of investment and create employment opportunity for 6,272 persons.

This unit in Khurda will produce 10 GW of solar pannel. Waaree Clean Energy Solutions Pvt Limited, India's largest solar panel manufacturer, will set up a 1.20 MMTPA Green Ammonia Plant in Jagatsinghpur.

This plant will be setup with an investment of Rs.12,480 crores, providing employment to 3,250 people. EG Solwin Hybrid Private Limited will establish a 0.30 MT Green Ammonia production unit at Tata SEZ, Gopalpur, Ganjam.

This project will bring in an investment of Rs.6,330 crores and employ 1,050 people. Action Ispat is expanding its steel production capacity from 0.37 MTPA to 7.5 MTPA, along with downstream and upstream facilities at Jharsuguda.

The expansion will be done with an investment of 21,000 crores and create job opportunity for additional 10,000 persons. OFB Tech Private Limited, will be setting up a manufacturing unit of Drum, Woven bags & Chemical complex at Dhamra in Bhadrak with a total investment of Rs.1,615 crores, employing 1,500 people. The Government of Odisha has been consistently supportive of business leaders investing in the state.

With these projects moving forward, Odisha's economy is expected to experience significant growth, solidifying its position as the top choice for investments and industrial development in Eastern India.