Orissa clears investment proposals worth of Rs 16,312 cr

BHUBANESWAR: Orissa government on Wednesday approved an investment of Rs 16,312 crore, including those proposed by Hindalco Industries and Rashmi Cement, in aluminium, cement and power sectors, official sources said. This is the first investment proposals cleared by the Naveen Patnaik after assuming charge of the state for third straight term.

The state-level Single Window Clearance Committee (SLSWCC) chaired by Chief Secretary A K Tripathy approved five projects, while two proposals, entailing an investment of over Rs 14,000 crore, in the power sector were referred to the high-level clearance authority (HLCA).

The projects which got the government approval are: Hindalco Industries Ltd, Rashmi Cement Ltd, Dhanarjay Industries Ltd, Koshal Ferro Ltd and Bhubaneswar Power Ltd.

Hindalco Industries Limited has proposed to set up an aluminium re-rolling mill here at an investment of Rs 850 crore while Rashmi Cement Limited has evinced interest to set up a ferro manganese plant by investing Rs 300 crore, director of industries Hemant Sharma told reporters after the SLSWCC meeting.

Around 3,525 people would get direct employment in the five proposed units, he said adding proposal by J R Power Zen and BJR Energy System Ltd were referred to HLCA.

While J R Power Zen proposed to invest Rs 7,988 crore in its plant, BJR would invest Rs 6,287 crore to generate 1,320 MW power. Bhubaneswar Power Private Ltd has proposed to invest Rs 675 crore for setting up a 2X67.5 MW each captive power plant for Tata Steel Ltd and Rawmet Ferrous Industries Ltd at Athagarh.