Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Industry News

| More

Five investment proposals worth Rs. 2,04,069 crore receive Government of Odisha's nod

Posted On: 2019-08-19 18:57:28

With the 5T initiative devised by the Odisha Govt., where transformation goals will be achieved through teamwork, transparency and technology enablers in a time-bound manner, industrialisation is at its peak. This strategy has already started yielding encouraging results towards our industrial growth, where the Govt. has approved five investment proposals envisaging investment of Rs. 2,04,069 Crore in the 20th High Level Clearance Authority (HLCA) meeting held under the Chairmanship of Hon'ble Chief Minister, Shri Naveen Patnaik in newly inaugurated Kharavel Bhavan conference hall today evening, wherein Shri Sanjeev Chopra, Principal Secretary, Industries outlined the project proposals for consideration. This is the highest ever investment approved by the HLCA so far.

These proposals will create employment opportunities for 27,645 people. All the proposals approved in the meeting belong to the focus sectors identified by the State Govt., i.e., Chemicals & Petrochemicals and Metal Downstream.

In the metal downstream Sector, the HLCA approved the proposal of M/s Jindal (India) Limited to set up a Cold Rolling Complex of 0.50 MTPA and Steel Processing Plant at Kalinga Nagar Industrial Complex, Dist. Jajpur, with a total investment of Rs. 1,676 Crores, providing employment to about 1,300 people.

Another proposal by M/s Talcher Fertilizer Ltd to set up a Coal based Urea Fertilizer complex of capacity 1.99 MMTPA at Talcher, Dist- Angul with investment of Rs. 14,732 Crores, employing around 550 people was also approved.

In a major breakthrough in the Petrochemical sector, the HLCA gave its nod to two giants in this sector for setting up their projects at Odisha.

The first one was by M/s Haldia Petrochemicals Ltd (HPL) to set up a Hydrocarbon processing complex comprising of light crude oil refinery, Aromatics complex and Ethylene Cracker Complex near the proposed Subarnarekha port, Dist- Balasore with a total investment of Rs. 78,225.00 Crores, providing job opportunities for around 10,000 people.

Another proposal was by the petrochemical major, M/s Indian Oil Corporation Limited to expand its existing Refinery unit from 15 MMTPA to 25 MMTPA, and setting up of a Petrochemical complex comprising a Dual Feed Cracker, Naphtha cracker and Petcoke Gasification Plant at Paradip, Dist: Jagatsinghpur with a total investment of Rs.1,00,300 Crores, employing around 12,595 people. The project will ensure the availability of building block feedstock to ancillary and downstream units in the Chemical and Petrochemical sector.

Another proposal by IOCL, to set up 1.2 MMTPA capacity of PX-PTA (Purified Terephthalic Acid complex) with an investment of Rs 9,136 Crore in its existing Paradip refinery, employing around 3,200 people, has also been approved in the meeting.

These would not only make the state a Petrochemical hub, propelling growth of downstream petrochemical units in state, but also make Odisha, the Energy Gateway of the East. Both the projects being port-based would also facilitate the export and import trading.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

JRK Group launches Mobile Application for easy investment in shares and mutual funds

'Cordless Matlab Bosch' - Introducing Experiential Mobile Vans to Unveil the Power of Cordless

Duroflex introduces India's only certified orthopaedic mattress range

Signify illuminates Qutub Minar with warm white LED's

Now every qualifying SanDisk® product purchase could win you gold

Red Velvet takes to the skies on its first commercial service to New York City

DLF Shopping Malls win top awards at the 10th anniversary celebration of CMO Asia Awards 2019

Odisha delegation at Indian Business and Innovation Summit, Singapore.

GRUBOX, a unique unmanned retail startup, spreading its wings at national capital region

Phylion rolls out 10 million LEV Lithium-ion Battery Packs

RED FM's 'South Side Story' takes Delhiites on a magical Southern ride!

Signify celebrates Ganesh Chaturthi by illuminating Ganpati Pandal with 4,000 LED bulbs in Mumbai

RAK Ceramics inaugurates its New Orientation Centre in Gurugram

Cinépolis hosted a special tribute for teachers

TAFE's free of cost tractor rental platform - 'JFarm Services' launched in Gujarat

HubSpot launches redesigned App Marketplace for growing businesses

BT to deliver cyber security services for ICARE

Visit of Invest Odisha delegation to Guangzhou, China

AdviosryMandi.com raises 36 Million Dollars from EST Group

Bharti Foundation partners with OpenLinks Foundation to launch tickLinks 2.0 mobile App for teachers

Poly Introduces G7500, a Meeting Room Solution Designed for Modern Indian Workplaces

1200 MW Annupur Thermal power project achieves 90% availability till date in the current financial year

Finzy Bags Product Innovator NBFC Of The Year Award

1-IndiaFamilyMart unveils two new stores in Mahoba and Rath in UP

Key telecom players bat for sustainable investments and regulatory improvements ahead of the 5G auctions

OPPO partners with Instagram for the 'Challenge Yourself' campaign for OPPO Reno 2

Revival in imported coal-based UMPPs drive 40% surge in Indian coal imports - Acuité Ratings

Chennai gets second Toys'R'Us store at Marina Mall

Buzzoka To Foray in Influencer & Celebrity Led Commerce

Canon India launches first exclusive 'Canon Image Square' store in Alappuzha

Decisions made by ACTICO's AI are fully explainable

Cabinet approves proposal for 26% FDI in Digital Media

Cabinet updates on FDI in Single Brand Retail Trading

Cabinet approves proposal for 100% FDI in Contract Manufacturing

Cabinet approves proposal for 100% FDI in Coal Mining

Cabinet approves Sugar export policy for evacuation of surplus stocks during sugar season 2019-20

DHFL Pramerica Life Insurance, Municipal Corporation and Health Department of Gurugram come together to fight dengue in the fourth year of #HumVsDengue Campaign

Tata AIA Life Insurance emerges as the fastest growing life insurance company in India

CSTPL, India's largest Pilot Training Organisation adds NEO A320 simulator to support pilot training in Bangalore

RBI's surplus transfer to strengthen the fiscal flexibility of Government

Enabling Cloud as a First Step to Business Transformation

Aeris Communications Wins 2 Awards in the Internet of Things at the CMO Asia Awards 2019

Rs. 20 Lacs to Rs. 20 Crore Startup: India's First-Ever Real Estate Company Offering Premium Rentals for Senior Level Business Travellers

Manage your Indoor Humid Condition with SHARP New Air Purifier cum De-Humidifier

IBBI registers Corporate Valuation Services as a Registered Valuer

Uber Announces 24x7 Safety Helpline

RED FM and ShowBox launch two new shows that will take you through music, culture, and Bollywood

Syska to launch Syska Google Home Mini Combo

Stratbeans enabled digital transformation for over 100 organizations globally

BIC Cello's Cricket Fever Pack gives fans the opportunity to meet world's No. 1 ODI bowler







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019