Bhubaneswar: Odisha’s High Level Clearance Authority (HLCA) headed by Chief Minister Mohan Charan Majhi Wednesday accorded final clearances to 20 mega projects worth Rs 76, 611.86 crore.
The projects included an artificial diamond manufacturing unit besides newage industries.
“As our Government completes two years, Odisha has emerged as one of the leading investment destinations in the country.Today’s approvals reflect growing investor confidence in Odisha and our commitment to creating employment opportunities, promoting industrial growth, and ensuring balanced development across the State,” said Chief Minister Majhi.
“The HLCA approved 20 major industrial projects have the potential to generate 50,517 employment opportunities across nine districts of the State.The approvals reaffirm the State Government’s commitment to promoting industrial growth, fostering advanced manufacturing, strengthening renewable energy ecosystems, encouraging value addition, and ensuring balanced regional development,” the CM added.
The projects span key sectors including Gemstone Manufacturing, Green Energy Equipment, Aerospace & Defence, Rare Earth Minerals-based Value-Added Products, Pharmaceuticals, Mechanical and Electrical Capital Goods, Chemicals, Steel, Iron & Ferro Alloys, and Power & Renewable Energy.A major highlight of the approvals is the emergence of Odisha as a significant destination for gemstone manufacturing.
Kira Diam LLP, Anjali Labtech Limited, and Grow Magnificent Private Limited will establish lab-grown diamond manufacturing units in Khordha with a combined investment of ₹9,817.50 crore, generating 8,100 employment opportunities.
Tata Power Renewable Energy Limited will establish an ingot and wafers along with a Solar PV Cell Manufacturing Unit in Ganjam with an investment of ₹10,000 crore, generating 5,000 employment opportunities. Further strengthening the sector, Saatvik Solar Industries Private Limited will invest ₹1,709.81 crore in a Solar PV Cells Manufacturing Facility in Ganjam, creating 519 employment opportunities.
Odisha’s focus on value addition in critical minerals received a significant boost with approvals for multiple projects in the Rare Earth Minerals-based Value-Added Products sector.
N.A.N. Magnetech Private Limited will invest ₹1,250 crore to establish a High-Performance EV Grade NdFeB Magnets manufacturing unit in Khordha/Cuttack, generating 2,000 employment opportunities.
Larsen & Toubro Limited will invest ₹2,400 crore in a Sintered NdFeB Permanent Magnets manufacturing facility in Ganjam, creating 2,000 jobs.
Additionally, World Titanium Industry Private Limited will establish a Titanium Dioxide Slag and Titanium Dioxide Pigment Manufacturing Unit in Ganjam with an investment of ₹2,800 crore, generating 1,500 employment opportunities.
Further strengthening Odisha’s manufacturing ecosystem, Ratnamani Metals and Tubes Limited will establish an Integrated Specialty Steel Manufacturing Unit in Jajpur with an investment of ₹1,642 crore, generating 800 employment opportunities.
In the pharmaceutical sector, Nectar Lifesciences Limited will invest ₹1,170 crore in Sambalpur for a Pharmaceutical Manufacturing Unit, creating 1,000 employment opportunities.
Jupiter Wagons Limited will establish a Railway Coach Manufacturing Facility in Jajpur with an investment of ₹1,500 crore, generating 1,000 employment opportunities.
The Steel, Iron & Ferro Alloys sector accounted for a significant share of the approved investments. Rashmi Metallurgical Industry Private Limited will invest ₹15,000 crore to establish a 4 MTPA Integrated Steel Plant in Jajpur, generating 11,000 employment opportunities. Shyam Metalics and Energy Limited will invest ₹7,580 crore in Sambalpur for a 1 MTPA Integrated Steel Manufacturing Unit, creating 3,500 jobs.
Further expanding the sector, SMC Power Generation Limited (Badmal) will invest ₹5,350 crore for the expansion of its Integrated Steel Plant and Cement Manufacturing Unit in Jharsuguda, generating 2,000 employment opportunities, while SMC Power Generation Limited (Hirma) will invest ₹3,800 crore for a similar expansion project, creating 2,000 jobs.
BR Steel & Power Private Limited will establish a 1.2 MTPA Integrated Steel Plant in Sambalpur with an investment of ₹2,400 crore, generating 5,020 employment opportunities, while Orissa Alloy Steel Private Limited will invest ₹1,200 crore in an Iron Ore Beneficiation Plant in Sundargarh, creating 1,100 jobs.
In the Power & Renewable Energy sector, Rajapuspa Renova LLP will establish a Pumped Storage Hydro Power Plant in Malkangiri with an investment of ₹5,220 crore, generating 500 employment opportunities. Additionally, KU Urja Private Limited will invest ₹2,471.98 crore in a Coal-Based Thermal Power Plant in Jharsuguda, creating 478 employment opportunities.
The Chemical sector also witnessed a major investment with Singhal Steel & Power Private Limited proposing an Aluminium Downstream Product manufacturing unit in Rayagada with an investment of ₹1,300.57 crore, generating 3,000 employment opportunities.
