Odisha government approves five major industrial projects in state
In a major move, the Odisha government has approved five industrial projects worth Rs 1.46 lakh crore in the metal and metal downstream sector, at a high-lLevel clearance authority meeting chaired by Chief Minister Naveen Patnaik, which is likely to generate employment opportunities to over 26,959 people in the state.
According to a press release by the government, the state has been able to attract investments worth Rs 2.96 lakh crore in financial year 2020-21.
The government approved the expansion of Bhushan Power and Steel Limited’s integrated steel plant from 5 MMTPA to 15 MMTPA against an investment of INR 55,000 crore to be set up in Rengali of Sambalpur district , which will generate potential employment opportunities for over 10,000 people.
It has also approved the expansion of Tata Steel Limited’s Crude steel production from 3 MTPA to 8 MTPA, Hot rolled coil from 3 MTPA to 7 MTPA, 2.2 MTPA cold-rolled products and 2 MTPA long products against an investment of INR 47,599 crore to be set up in Kalinga Nagar, Jajpur, which will generate potential employment opportunities for over 4,625 people.
Keonjhar, the mineral-bearing district will get a mega steel plant of 3 MT capacity. This is the first big investment in manufacturing in Keonjjhar.
Among the other projects approved are the expansion of Jindal Steel and Power Limited’s 6 MTPA existing Integrated steel plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA. This will be the largest single location steel plant capacity in the world and employ over 1,000 people in Angul.
Expansion of Rungta Mines Limited’s Integrated Steel Plant from the proposed capacity of 2.85 MMTPA capacity to 7.55 MMTPA by adding capacity of 4.7 MMTPA was also approved.
The existing steel-making capacity in Odisha is about 30 MT. The government's approval another 27.5 MT steel making capacity will almost double the installed capacity in Odisha over the next few years.