Odisha Approves Rs 1,713.65 Cr Investment In 14 Projects

In a significant stride towards economic evolution, Odisha witnessed a pivotal moment as the 127th State Level Single Window Clearance Authority (SLSWCA) meeting, chaired by Chief Secretary Pradeep Kumar Jena, IAS, granted approval to fourteen groundbreaking projects worth INR 1,713.65 Crores, on Wednesday. 

The diverse investments across sectors such as metal downstream & ancillaries, power, pharmaceuticals, plastics, food processing, and tourism are expected to reshape the state's economic trajectory.

The projects approved, with a cumulative employment generation potential of 5,134, reaffirm Odisha's status as a premier investment destination. The ventures, spanning seven districts, hold the promise of fostering economic development and prosperity.

Leading the surge in steel ancillary ventures, Neo Industries Metal Processing secured approval for a project worth Rs 72 Crores in Jajpur. The project, involving chrome plating, grinding, and texturing for a steel unit, is set to create employment opportunities for 50 individuals.

Project Details 

In the stainless steel & ferro alloys sector, Anand Exports takes centre stage with its expansion initiative in Jajpur, involving the augmentation of ferrochrome unit capacity. With an investment of Rs 628.00 Crores, the project is anticipated to generate employment for 2,828 individuals.

Asoka Sky Metals contributes to the metal downstream sector with a project in Kalinga Nagar at Jajpur, with a project cost of Rs 101 Crores and an employment potential of 105.

The tourism sector in Odisha is poised for substantial growth with the approval of luxury resorts and hotels. Mahindra Holidays and Resorts plan to set up a luxury resort at Sonapur Beach near Bahuda River Mouth, investing Rs 228.45 Crores and creating employment opportunities for 150 in Chikiti, Ganjam. 

T S Beach Resorts aims to redefine hospitality with a Convention Centre and 4-Star Hotel at Puri, involving an investment of Rs 132.16 Crores and providing employment opportunities for 250 individuals in Sipasarubali, Puri. 

Hotel Rashmi Plaza Opc Private Limited adds to this development with a 4-Star Hotel at Jharsuguda, featuring a project cost of Rs 70.74 Crores and an employment potential of 210 new jobs.

Jindal Stainless focuses on contributing to renewable energy with the establishment of a 23.02 MW Captive Roof-Top Solar Power Plant in Jajpur. With a project cost of Rs 110.24 Crores, this initiative is expected to generate employment for 60 individuals.

In the pharmaceutical sector, Acechem Remedy ventures into the Manufacturing Of Tablets, Capsules Ointments And Liquid Oral in Kurki, Puri. 

This project, with a cost of Rs 53.00 Crores, is anticipated to provide employment for 163 individuals.

Best Power Equipments India diversified with its project to set up a unit for manufacturing of UPS System And Batteries in Khurda. With a project cost of Rs 52.75 Crores, this initiative is set to generate employment for 350 individuals.

Oribake enhances the food processing sector with its manufacturing unit for biscuits and other baked products in Tangi-Choudwar, District –Cuttack. 

With a cumulative capacity of 60,000 MT per annum, this Rs 51.80 Crores project is set to create employment for 280 individuals.

Sun Agro Foods contributes to the food processing landscape with its Modern Rice Mill project in Jajpur. With the project cost of Rs 50.43 Crores, this initiative is expected to generate employment for 98 individuals.

SMVD PolyPack focuses on the plastics sector with its Manufacturing Unit For PP/ HDPE bags and sacks in Jagatsinghpur. With an annual capacity of 10,500 MT, this rs 61.30 Crores project is set to create employment for 215 individuals.

Techcon India aims to make strides in plastics with its manufacturing unit of Injection moulding plastic products in Khurdha. 

With a project cost of Rs 51 Crores, this initiative is anticipated to generate employment for 300 individuals.

Mediaid Marketing Services is set to establish a 7.2 Lakh Nos/Day Syringe Production Unit in Ramdaspur, Cuttack. With a project cost of Rs 50.78 Crores, this initiative is expected to provide employment for 75 individuals.

In a collective effort, these fifteen transformative projects, with a cumulative investment of Rs 1,713.65 Crores, are poised to create 5,134 employment opportunities, paving the way for enhanced industrial growth and economic prosperity in Odisha. 

Chief Minister Naveen Patnaik's effective leadership is turning Odisha into a sought-after global investment destination, setting a remarkable standard for the state's overall development.