Odisha offers dedicated manufacturing cluster for Japanese investors

Topics Odisha

Seeking Japanese investment

in the state, the Odisha government on Wednesday said it has already created a dedicated Japanese manufacturing cluster at a place close to the state capital here.

This was revealed by Industries minister D S Mishra while participating in the India-Japan investment forum virtual conference organised by Indian Chambers of Commerce (ICC).

To attract investors from Japan, the state government offered 3.53 square kilometre industry ready land near Bhubaneswar, the minister said, adding that the particular land parcel is a plug-and-play industrial land with a dedicated research lab, dormitories for employees, and other facilities required for new industrial projects.

Odishas Industries department also listed out advantages available in the state which included a stable government, state-of-the-art industrial infrastructure, abundant natural resources and strategically placed coastline to attract investment from the worlds third-largest economy.

The minister also outlined the steps taken to streamline the investment process and to create a business- friendly environment.

"To support new industries planning to set up in the state, we have an efficient single window system which hand- holds them throughout the investment grounding process," the minister said.

For investors intending to set up petrochemical units in Odisha, the state has 2,500 acres of industrial ready-to- set up plots near Paradip port, also home to a large crude oil refinery facility of Indian Oil Corporation Limited, said Industries secretary Hemant Sharma.

"With abundant natural resources, surplus availability of power at a cost lesser than many other industrialised states of India and a strategically located coastline, within reach of the ASEAN markets Odisha could be the most promising investment destination for countries like Japan," Sharma said while wooing investors from Japan and other Asian countries.

In a separate event, the Industries minister said that the state has made satisfactory progress in setting up of different industrial parks in different places of Odisha.

These industrial parks include a Plastic Park at Paradip, an Aluminium Park in Angul, Marine Food Processing Park at Deras near Bhubaneswar, Electronics Park in Bhubaneswar, PCPIR in Paradip and Ispat Cluster at Kalinga Nagar in Jajpur.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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