Job creation: Odisha okays Rs 15 bn investments across 3 industrial parks

Photo: Shutterstock
The Odisha Government on Thursday approved five investment proposals worth Rs 15.08 billion which will create employment opportunities for 2,155 people at the 78th meeting of the State Level Single Window Clearance Authority (SLSWCA).

The SLSWCA under the Chairmanship of Chief Secretary Aditya Prasad Padhi accorded approval to IOCL (Indian Oil Corporation Ltd) to set up a polyester products manufacturing unit of 324 KTPA capacity at the textiles park in Bhadrak district with a total investment of Rs 9.75 billion in joint venture with Haldia-based MCPI Pvt Ltd.

The project will create direct and indirect employment for 185 people and will act as an anchor and help in supplying feedstock and raw material to the downstream technical textile industries which will come up in the textiles park. It will reportedly provide employment to more than 100,000 persons in the long run.

The meeting also gave approval to one of the leading manufacturers of aluminium extrusions. The company had submitted a proposal to set up a greenfield manufacturing unit at the Angul Aluminium Park with a capacity of 40,000 metric tonnes (mt) per annum.

The investment outlay is pegged Rs two billion with employment potential of 500 persons. The park at Angul is being developed as an exclusive state-of-the-art industrial park for ancillary and downstream industries for alumina and aluminium.

A Gujarat-based edible oil manufacturing company’s proposal to set up a 750,000 tonnes per annum vegetable oil manufacturing unit at Paradeep at an investment of Rs 20 million was also approved at the meeting. The unit will create employment opportunities for 920 people directly and indirectly.

The SLSWCA also approved the proposal of an Andhra Pradesh-based company which will invest Rs 0.71 billion to manufacture Instant Pasta and Vermicelli and Sweet Potato flour. The proposed unit will be first of its kind in the state.

The fifth investment proposal approved by the SLSWCA was that of a Kolkata-based company which will invest Rs 0.62 billion to establish an integrated cold chain service unit at the seafood park at Deras in Khordha district. The project will have employment potential for 250 people.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel