The Jagatpur industrial estate. Telegraph picture

Bhubaneswar, Aug. 11: The government today decided to follow up its land bank scheme, under which, it will acquire private land for industries.

The government intends to acquire 50,000 acres for upcoming industries. “The emphasis will be on land near ports, national highways and railway tracks, so that there will be no pressure on providing basic infrastructure facilities,” said an official.

The meeting, presided by chief secretary Gokul Chandra Pati, reviewed the steps being taken by the authorities to expedite the pending industrial projects in the state.

Besides, the government will also identify new land suitable for industries. As the land acquisition laws, enacted by the central government, has made the acquisition process cumbersome, officials were asked to examine the provisions of the new law and take appropriate steps.

Dedicated teams will be set up to fast track execution of major industrial projects in the Kalinga Nagar industrial complex, the Petroleum Chemicals and Petrochemicals Investment Region (PCPIR) and the Talcher coal corridor projects.

The Odisha Industrial Infrastructure Development Corporation (Idco) has developed the Kalinga Nagar Industrial Complex on 13,000 acres. Major steel companies such as Tata Steel, Neelachal Ispat Nigam Limite, Jindal Stainless Limited, Visa Steel and MESCO have set up their units over there. The state government is planning to develop the complex as a national investment manufacturing zone under the National Manufacturing Policy of the central government.

Similarly, a PCPIR is proposed to be set up over 284.15sqkm in Kendrapara and Jagatsinghpur districts. It is expected to draw investment of about Rs 2.8 lakh crore, including a committed investment of Rs 29,777 crore. Indian Oil Corporation Ltd, which is setting up an oil refinery near Paradip, will be the anchor tenant for the hub. A company called Paradip Investment Region Development Ltd has been formed under Idco to implement the project.

The corporation is developing a common rail corridor project for evacuation of coal from the coal blocks located in Talcher and Ib Valley. For the Talcher region, preparation of a detailed project report and financial feasibility study are in final stages. Idco has formed a company called Brahmani Railways Ltd to implement the project.

Land acquisition is on for the Ib Valley portion, selection of consultants is in process for preparation of the detailed project report.