Plans for Investments in Odisha Worth Rs. 25,845 Cr Approve

As Odisha looks to increase its portfolio of business investments within the state, the Odisha Government has just approved six proposed plans that could net the state at least Rs. 25,845 crores in the coming years. Three of these project proposals come from Vedanta Ltd. and will involve, among other things, the setting up of production facilities of chemical byproducts and caustic soda. This plant alone is expected to be an investment of Rs. 6,500 crores, and the plant will be established at Dhamra in Bhadrak District. The other Vedanta Ltd. projects that have received approval are the expansions of its existing alumina refinery in Lanjigarh in Kalahandi District, and its aluminum smelter in Jharsuguda. The investment amounts for both of these projects is expected to be Rs. 6,483 crores and Rs. 1,240 crores, respectively.

 

The three other projects that received the go ahead so far are the National Aluminum Company Limited (NALCO) aluminum processing production plant at Kamakshyanagar in Dhenkanal District, where aluminum alloy wheel, aluminum foil, aluminum rolled products and aluminum extrusions will be produced, the Hindalco (Hindustan Aluminum Corporation) Industries Ltd. production facility at Lapanga in Sambalpur, where flat-rolled aluminum products will be produced, and finally, flexible packaging production plant of Chiripal Poly Films Ltd. at Paradip. The investment amounts of these projects were estimated to be Rs. 5,522 crores, Rs. 5,000 crores and Rs. 1,100 crores, respectively.

 

The authority responsible for approving these project proposals was the High Level Clearance Authority (HLCA), and it is headed by Naveen Patnaik, the Chief Minister of Odisha.