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Odisha approves 5 mega investment proposals worth Rs 92,713 cr

News Agencies | Updated on: 6 November 2020, 8:34 IST

The 24th High-Level Clearance Authority Meeting held under the chairmanship of Chief Minister Naveen Patnaik on Thursday approved five mega investment proposals worth Rs 92,713 crores 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.

According to an official release, presiding over the meeting, Patnaik emphasised the importance of accelerating the growth of industries in the state and directed all agencies of the State Government to work in a coordinated manner to achieve the goals of rapid industrial growth leading to employment generation in the state.

The Chief Minister directed the Chief Secretary to review the progress of these projects and keep him apprised of the progress on regular basis.

Expressing happiness over the flow of investment proposals to the state, Patnaik said, "The industrial economy of Odisha has quickly revived. The state has approved investments worth Rs 1.17 lakh crores since February 2020 with potential employment for 53 thousand persons."

These industrial projects will create significant employment opportunities for people of Odisha across all skill levels, he added.

This is the single largest investment approval by the HLCA during the period of current Industrial Policies Resolution (IPR-2015).


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First published: 6 November 2020, 8:34 IST