Odisha govt clears 10 projects, JSW to set up steel plant at Paradip

Bhubaneswar: Odisha government’s High Level Clearance Authority (HLCA) on Friday approved 10 mega project proposals promising to generate an investment of Rs 1.10 lakh crore in the state.

HLCA chaired by Chief Minister Naveen Patnaik approved the 10 projects including the proposals made by JSW to set up a 10 MTPA steel plant at Paradip.

The officials of JSW have requested Odisha government to provide land that was earlier acquired and allotted for Posco, informed chief secretary Aditya Prasad Padhi after the HLCA meeting.

Also Read: Posco’s Exit Sparks Speculation Over Fate Of Acquired Lands

The proposed JSW steel plant would be set up with an investment of Rs 50,000 while it aims to create job opportunity for nearly 30,000 youths.

Apart from JSW, HLCA has also approved proposals of Paradip Phosphates Ltd,  OCL India Ltd, NLC India, National Alumina Company, Bhusan Power and Steel, National Mineral Development Corporation, JSW Infrastructure and Smartchem Technologies.

Odisha government claimed that the three investors meets- Make in Odisha conclave in Bhubanewar meet and Odisha Investor’s meet in Mumbai and Bengaluru alongwith a number of business policy reforms paved way for such huge investment opportunities in the state.

The three investors meets generated investment proposals of Rs 3.6 lakh crore through 124 project proposals. MoUs have already been signed for 71 projects, official sources said.

“We have received firm commitments for more than 50 percent of the investment intents received during the investors meet held last year,” said Chief Minister Naveen Patnaik.

Odisha’s policy and business ecosystem is the best in the country and review will be done on the progress of the projects