Odisha Business News – Odisha govt today accorded in-principle approval to four companies to invest Rs 846 crore #Odisha #News #BusinessStandard
Bhubaneswar: The Odisha government today accorded in-principle approval to four companies to invest Rs 846 crore, which will provide direct employment to more 1,000 people in the state.
“The State Level Single Window Clearance Committee (SLSWCLC) headed by Chief Secretary G C Pati cleared four projects involving investment of Rs 846 crore,” said Gagan Kumar Dhal, the CMD of the state-owned Industrial Promotion and Investment Corporation of Limited (IPICOL).
He said a proposal of Uttam Intralogistics to construct a 21-km long conveyor belt project from Odisha to Chhattisgarh has been approved by the state government.
The company would invest Rs 260 crore in construction of the conveyor belt to transport coal through pipeline.
The coal would be transported from Mahanadi Coalfield area within Odisha, he said.
Germany-based SMS India’s proposal to expand its unit at Khurda for manufacture of rolling mill equipment used in steel industries, at an investment of Rs 168 crore also got the approval, Dhal said.
A proposal of the Container Corporation of India Limited, an unit under Ministry of Railways, has also been approved by the state government.
CONCOR India, has proposed two container terminals, one at Muniguda and another at Paradip, at an investment of Rs 236 crore and would also set up two Multi-Modal Logistic Parks at both the places.
Purvi Bharat Paper and Power Limited’s proposal of establishing a logistic park and a solar power plant of 1.5 MW capacity at an investment of Rs 182 crore has also been approved, Dhal said.
The clearances were subjected to the permission from the energy and water resources department of Odisha, he said.
Replying to a question, Dhal said another proposal from the Saraf Group Industries to set up a 15 MW captive power plant at its project site at Chhatrapur, has been put on hold.
“The company will be told to use power from the state grid,” Dhal added. PTI