Odisha government has approved investment proposals worth Rs 4,222.24 crore to boost industrial development in the state. This step will create 15,497 new jobs and give impetus to industrial activities in the state. This initiative will boost economic growth in various districts of the state and help in providing a strong industrial base to Odisha.
25 projects got approval
The state level single window approval authority, headed by Chief Secretary Manoj Ahuja, approved 25 investment projects on January 1.
- The focus of these projects is on sectors such as green energy equipment, pharmaceuticals, textiles, plastics, and food processing.
- The decision has been taken ahead of the ‘Utkarsh Odisha – Make in Odisha Conclave 2025’ business summit, which will be a major platform to attract investments in the state.
Major Projects and Investment Details
Pharmaceutical Manufacturing Unit – Hetero Labs Limited
- District: Ganjam
- Cost: ₹700 crore
- Objective: To promote pharmaceutical production in the state.
Titanium Slag Plant – Shyam Metaliks Specialty Alloys Private Limited
- District: Sambalpur
- Cost: ₹710 crore
- Objective: Increase titanium slag production.
These districts will benefit
11 districts of Odisha will get direct benefits from these investment projects:
- finger
- Ganjam
- Khordha
- Navrangpur
- ridge
- Jharsuguda
- Bargarh
- Sambalpur
- Sundergarh
- Puri
- Kandhamal
These projects will increase employment opportunities at the local level and strengthen the industrial base.
Importance of ‘Utkarsh Odisha – Make in Odisha Conclave 2025’
This business summit will be a big platform to accelerate investment and industrial development in the state.
- The approval of investment proposals indicates that the Government of Odisha is committed to providing a conducive environment to industries.
- This initiative will provide impetus to local employment as well as economic development.
Benefits of economic development for Odisha
- Employment Generation:
- 15,497 new jobs will create opportunities for local people in the state.
- Economic Strength:
- Large scale investment will further strengthen the industrial base of the state.
- Investment Attraction:
- These projects will attract the attention of investors to new areas in the state.
