Bhubaneswar: The Odisha government today approved five mega investment proposals worth Rs 92,713 crore. The projects are expected to generate employment opportunities for 31,979 people.
The mega investment proposals were in the metal sector starting from beneficiation to manufacturing of pellets, iron, steel, stainless steel, rolled products as well as cement utilising waste products like slag and fly ash from other industries.
The state accorded the green signal for the mega investments at the High Level Clearance Authority (HCLA) meeting. The five projects for which in-principle approval was accorded by HLCA included expansion project of Jindal Steel and Power Limited's Integrated steel plant in Angul from 6 MTPA to 18.6 MTPA, 36 MTPA Slurry Pipeline and 12.5 MTPA cement plant with an investment of Rs 76,018 crore, official sources said.
The proposal of expansion project of Jindal Stainless Steel Limited's capacity from 1.1 MTPA to 3.2 MTPA and Cold Rolling Mill capacity from 0.8 MTPA to 2.4 MTPA with an investment of Rs 6,840 crore in Kalinganagar, Jajpur, also got the nod of the HLCA.
Essar Minmet Limited's proposal of 14 MTPA Beneficiation and 14 MTPA Pellet Plant and 14 MTPA Slurry pipeline at an investment of Rs 6,650 crore to be set up in Keonjhar and Paradip also got the approval.
Expansion project proposal of ArcelorMittal Nippon Steel India Limited's Beneficiation Plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and Pellet Plant at Paradip from 6 MTPA to 12 MTPA, at an investment of Rs 2,000 crore, also got approval.
Shyam Metalics and Energy Limited's expansion project of its steel plant project in Pandloi, Sambalpur from 0.77 MTPA to 2.373 MTPA and rolling mill against an investment of Rs 1,205 crore was also approved.