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Published on 3/09/2020 9:22:37 AM | Source: IANS

Odisha clears investment proposals of Rs 3,205.67 crore

Posted in Stock Market| #Stock Market #Odisha

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 The Odisha government on Wednesday approved seven investment proposals worth Rs 3205.67 crore, which is likely to generate employment for 2,494 people in the state.

The State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Chief Secretary Asit Kumar Tripathy approved the proposals, said an official.

MGM Minerals Limited has proposed for expansion of its projects with an investment of Rs 801.89 crore.

It has proposed to set up 0.125 MTPA sponge iron plant, 0.6 MTPA pellet plant, 0.25 MTPA MS Billets, 0.25 MTPA TMT and wire rods and 40 MW captive power plant at Nimdha in Dhenkanal district.

The proposals of GM Iron & Steel Company Limited for expansion of its projects got the nod of the state government.

It has proposed to set up 0.8 MTPA pellet plant, 0.2379 MTPA DRI plant, 0.195 MTPA Billet, 0.24 MTPA wire rod mill, 0.416 MTPA slag cement and 46 MW captive power plant in Dhenkanal, with an investment of Rs. 607.52 crore.

Envirocare Infrasolution Pvt. Ltd has proposed for setting up iron ore beneficiation plant of 3.6 MTPA capacity at Koira in Sundergarh, with an investment of Rs 60 crore, the official said.

The proposal of Hindalco Industries Limited for setting up Flue Gas Desulphurization Plant (FGD) for its existing captive power plant (6x150 MW) at Lapanga in Sambalpur got the approval in the meeting. The company would investment Rs 696 crore.

Likewise, Lifeline Multi-ventures Pvt Ltd proposed to set up a 5-star hotel in Bhubaneswar with a total investment of Rs 150.38 crore.

SLSWCA also approved the proposal of JSW Cement Ltd for expansion of Cement grinding capacity from 1.2 MTPA to 2.4 MTPA at Kalinga Nagar in Jajpur with an investment of Rs 489.88 crore.

In addition, the proposal of Jajpur Cements Pvt Ltd for expansion of cement grinding capacity from 0.5 MTPA to 1.5 MTPA at Kalinga Nagar with an investment Rs 400 crore got the approval of the government.