Finance
An official said that the Odisha government approved nine investment projects worth Rs 1.53 lakh crore on Thursday, including a Rs 38,000 crore proposal from ArcelorMittal Nippon Steel (AMNS) India Ltd.
Odisha’s high level clearance authority (HLCA), led by Chief Minister Naveen Patnaik, has approved these projects, which will employ over 27,000 people in the state.
The HLCA has approved four projects in the green energy and equipment sector, two in the paper industry, two in the metals and minerals sector, and one in the IT infrastructure sector. The project intents were received at the 2022 Make in Odisha Conclave.
ArcelorMittal’s proposal to build a 7 million tonne per annum (MTPA) steel plant in Odisha’s Jagatsinghpur district was approved today, according to officials. This project is expected to generate 11,000 new job opportunities.
Similarly, the state has approved Rungta Metals Private Limited’s (RMPL) proposal to expand its integrated steel plant in Rairangpur, Mayurbhanj district, from 0.5 MTPA to 1 MTPA with an investment of Rs 1,140 crore.
The committee approved ACME Clean Energy Private Limited’s proposal, which included an investment of Rs 58,209 crore. The company intends to build a green hydrogen plant and a green ammonia plant with a combined capacity of 1.1 million metric tons in Kujanga, Jagatsinghpur district and 4,500 MW solar power plants at Koraput and Kalahandi districts.
The state has also approved Avaada Green H2 Private Limited’s proposal in Ganjam district, which promises a Rs 23,500 crore investment.
Renew EFuels Private Limited (REFPL) will invest Rs 20,000 crore in the other green energy project, and Ocior Energy Private Limited will invest Rs 7,200 crore.
Bank Note Paper Mill India Private Limited and Deevyashakti India Private Limited also received approval from the CM-led panel.
Bank Note Paper Mill India Private Limited, a joint venture of the government of India and the Reserve Bank of India, will invest Rs 2,500 crore in the establishment of a bank note paper unit in Balasore.
Deevyashakti India, on the other hand, proposed establishing an integrated pulp and paper mill in Dhenkanal at a cost of Rs 1,000 crore.
The HLCA has approved My Home Constructions Private Limited’s investment proposal of Rs 1,525 crore in the IT and Infrastructure sector.
Source:OCN
