Odisha approves investment proposals worth Rs 1,325 crore from Chettinad Cement, NEEPCO and Ramky Enviro Engineers Ltd.
Kolkata, 29 July, 2017:
Industrialization in a rapid speed for Odisha as the Government of Odisha has taken various progressive steps to provide an ideal business ecosystem, create an enabling policy framework and develop state-of-the-art industrial infrastructure to encourage companies across the country to set up or expand their business in the state.
Chief Minister Naveen Patnaik and his team working at fast track to set the goals before 2019 Loksabha Election to establish faith of people under his leadership.
Following the success of Make in Odisha Conclave in Bhubaneswar and Investors Meet in Mumbai and Bengaluru, Odisha has already approved investments proposals worth more than Rs 2 lakh crore, which are at various stages of implementation.
In an effort to review and dispose all investment proposals in just 20 days, Odisha’s State Level Single Window Clearance Authority (SLSWCA) today organized its 73rd monthly meeting and approved investment proposals worth Rs. 1,325 crore from Chettinad Cement Corporation, North Eastern Electric Power Corporation Ltd. (NEEPCO) and Ramky Enviro Engineers Ltd.
Speaking on the sidelines of SLSWCA meeting, Mr. Sanjeev Chopra, Principal Secretary, Industries Department, Government of Odisha said “It has been our endeavor to make Odisha a business-friendly destination by bringing in key business reforms, developing world class infrastructure and establishing sector specific clusters across the state. I am pleased to see that these progressive steps taken by the state government has been able to create an ideal business ecosystem, allowing existing industries to flourish while encouraging companies across the country to set up their operations in Odisha.”
With the required approval from the SLSWCA in place, Chettinad Cement Corporation will establish a green field cement grinding project with a capacity of 2MTPA at Kalinga Nagar Industrial Complex with an investment of Rs. 231.84 crore. Headquartered in Chennai, Chettinad Cement is one of the pioneers of cement Industry in the country
The proposal from NEEPCO to set up 200 MW Solar Power plant in the State has also been approved today by SLSWCA. The Mini- Ratna Company is slated to invest Rs. 944.85 crore for the implementation of the project and the unit is likely to start operations in December, 2019.
Additionally, the business proposal from Ramky Enviro Engineers Ltd. has also been approved to set up an integrated common hazardous waste treatment, storage and disposal facility at Katikela in the district of Jharsuguda with a total investment of Rs. 148.63 crore. The company has another unit in Jajpur which is already operational in addition to 14 similar facilities with various capacities in different parts of India.
In SLSWCA’s previous meeting held on 30 June, 2017, Odisha approved investment proposals worth Rs 1,189 crore from Ambuja Cements, Emami Paper Mills and Surya Foods & Agro. The state government is simultaneously focusing on the rapid on-ground implementation of the approved projects.