Odisha attracts Rs 700cr foreign investment

Bhubaneswar: The three-day ‘Make In Odisha’ conclave which concluded here on Friday seems to have borne fruitful results as the State attracted investment commitment of Rs 700 crore from foreign countries.

Two companies have so far evinced interest to set up their units in the State, Odisha Industries minster Debi Prasad Mishra said.

“We have received proposals from two foreign companies. Indo European Sustainable Development (IESD) from Italy has proposed us to set up a food and fruit processing park with an initial investment of Rs 250 crore”, Mishra stated.

“It has proposed to process rice in Kalahandi and turmeric in Kandhamal districts”, the minister said.

Similarly in apparel sector, Fortunex, Bangladesh’s leading manufacturer and exporter has shown interest to expand its business in the eastern region of the country.

“They (Fortunex) are expanding operations worldwide. The company has proposed to set up a plant at Ramdaspur near Cuttack. Initially it has committed to invest Rs 450 crore”, the minister stated.

“Though the amount is less but the employment potential is close to 4000” he pointed out.

Information accessed from IESD’s website said, in September last year a company delegation had met chief minister Naveen Patnaik and assured to develop a 50 MW photovoltaic plant and an agro-industrial complex in the State.

Besides, it had committed to develop a food and fruit processing park, industrial clusters that includes technologies for agricultural products transformation and extraction and technologies for renewable energy production.

In the valedictory session of ‘Make In Odisha’ conclave, chief minister Naveen Patnaik on Friday announced that the State has received investment commitment of Rs 2.03 lakh crore.