The 24th High Level Clearance Authority (HLCA) meeting held under the chairmanship of Chief Minister Naveen Patnaik on Thursday approved five mega investment proposals worth Rs 92,713 crore in the metal sector. This is the largest-ever investment in IPR-2015.
The approved amount is the largest investment made under the IPR-2015. When functional, the projecs would create employment opportunities for 31,979 people across all skill levels, said the Chief Minister. Expressing happiness over flow of investment proposals, Patnaik said that the industrial economy of Odisha has quickly revived. The State has approved investments worth Rs 1.17 lakh crore since February 2020 with potential employment for 53 thousand persons, he said.
Among the approved projects, the JSPL would expand its steel plant in Angul from 6 MTPA to 18.6 MTPA and would establish a 36-MTPA slurry pipeline and a 12.5- MTPA cement plant with an investment of Rs 76,018 crore. The projects would give employment to over 24,350 persons in two phases. Expansion project of the Jindal Stainless Limited’s stainless steel capacity from 1.1 MTPA to 3.2 MTPA and cold rolling mill capacity from 0.8 MTPA to 2.4 MTPA at Rs 6,840 crore in Kalinganagar, Jajpur would provide jobs to over 2,236 persons.
The Essar Minmet Limited would set up a 14-MTPA beneficiation & 14-MTPA pellet plant and 14 MTPA slurry pipeline in Keonjhar and Paradip, respectively at Rs 6,650 crore. Over 1,468 persons would gete jobs.
Expansion project of the Arcelor Mittal Nippon Steel India Limited’s beneficiation plant in Keonjhar from 10.76 MTPA to 16.76 MTPA and pellet plant at Paradip from 6 MTPA to 12 MTPA against an investment of Rs 2,000 crore were approved. The projects would give jobs to over 655 persons.
