Bhubaneswar: The state government Wednesday granted seven investment proposals from different sectors worth Rs 3205.67 crore. The proposals were approved during the state level single window clearance authority (SLSWCA) meeting held under the chairmanship of Chief Secretary Asit Tripathy.
Investments will be made in sectors such as metal & metal downstream, infrastructure, tourism and cement. The proposals will create jobs for 2,494 people in the state. MGM Minerals Limited will expand its project by setting up a 0.125 MTPA sponge iron plant, 0.6 MTPA pellet plant, 0.25 MTPA MS billets, 0.25 MTPA TMT & wire rods and 40 MW captive power plant at Nimdha in Dhenkanal district. The company will invest Rs 801.89 crore.
GM Iron & Steel Company will invest Rs 607.52 crore for expansion of its project. The company will 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.
Hindalco Industries will set up a flue gas desulphurization plant for its existing CPP (6×150 MW) at Lapanga in Sambalpur. The company is likely to invest Rs 696 crore. SLSWCA also approved a proposal by JSW Cement Ltd (JSW) for expansion of its cement grinding capacity from 1.2 MTPA to 2.4 MTPA at Kalinga Nagar in Jajpur with an investment of Rs 489.88 crore. Jajpur Cements will also invest `400 crore for a project at Kalinga Nagara, Jajpur.