SME Times News Bureau | 17 Jan, 2017
The Odisha government on Tuesday approved five investment
proposals worth Rs 328 crore that will create employment opportunity for 1,674
people.
The government's nod to these projects came during the 76th meeting of State
Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of
chief secretary A.P. Padhi.
The government approved the proposal of setting up a manufacturing unit with a
capacity to produce 35,000 tonnes per annum aluminium alloy conductors as well
as alloy wires and rods at Angul Aluminium park.
With an investment of Rs 75 crore, the project will help create direct and
indirect employment for 425 people, said an official.
Another downstream project for setting up a manufacturing plant to produce
33,500 tonnes per annum aluminium and alloy downstream products at Angul
Aluminium Park also received SLSWCA's nod.
The project entails an investment of Rs 56.87 crore and would provide
employment to 250 people, he added.
In a bid to support downstream players setting up units in Angul Aluminium
Park, the state government is giving a discount of Rs 10 lakh per acre towards
the land cost, while NALCO is offering a price discount of Rs 4,000 per tonne
on aluminium ingots and Rs 5,000 per tonne on molten metal, said a release.
Such initiatives are making the business ecosystem in Angul Aluminium Park more
lucrative for the investors.
A proposal to set up a poultry processing plant at Khordha industrial area and
a poultry pellet feed plant at Sea Food Park, Deras also got the nod of the
state government.
Another pellet feed plant, proposed to be set up at Bhadrak by the same firm,
was also given clearance with a cumulative investment of Rs 50.27 crore. The
three units, together, would provide employment to 486 people, the release
said.
SLSWCA also cleared a proposal to set up 30,000 tonnes per annum vegetable oil
manufacturing unit at Khordha industrial area. The project entails an
investment of Rs 91.45 crore and will create employment for 384 people.
During the 76th meeting of the SLSWCA, a proposal related to setting up a
four-star hotel at Cuttack with an investment of Rs 54.50 crore was also given
nod. The project will create an employment opportunity for 129 people.