Nestle to invest Rs 890 crore in Odisha
BHUBANESWAR: In a major boost to Odisha’s industrial sector, one of the leading multinational companies, Nestle India Limited will invest Rs 890 crore in the state. The MNC will set up a food processing unit in Khurda employing over 800 people. It is one of the 11 industrial projects entailing an investment of Rs 3,266 crore approved by the state-level single window clearance authority (SLSWCA) here on Monday.
The authority meeting chaired by chief secretary Pradeep Jena approved the proposal of Colortone Garments Pvt Ltd (a subsidiary of First Step Baby-Wear), the second largest baby-wear manufacturer in India for setting up an integrated apparel manufacturing facility along with 1.2 MW rooftop captive solar power plant with an investment of over Rs 200 crore providing employment to over 4,820 people.
Similarly, Himadri Speciality Chemical Limited, a marquee name in the chemicals sector, got approval to set up its chemical manufacturing unit in the state with an investment of over Rs 980 crore. Three key projects were approved in the plastic sector including IDVB Recycling Operations Pvt Ltd. The company plans to set up a new unit of recycled pet flakes and recycled per resin products having an annual capacity of 63,000 MT with an investment of Rs 318 crore.
Purv Packaging Pvt Ltd has proposed to set up a new manufacturing unit for plastic caps, PET preforms and other allied products, having an annual capacity of 1,017.70 million Pcs with an investment of Rs 152 crore. RDB Rasayans plans to put up a manufacturing unit for flexible intermediate bulk containers and other allied products with an annual capacity of 6,000 MT and an investment intent of Rs 59 crore.
In the metal downstream and ancillary sector, the projects of Beekay Utkal Steel Private Limited and IFGL Refractories Limited were approved. Beekay Steel has proposed to invest Rs 260 crore for its third unit in the state while IFGL Refractories is planning to set up its second unit. In the IT and ESDM sector, the panel gave its nod to a project of Nisum Consulting Private Limited with an investment of Rs 200 crore. The company proposes to set up a software development centre facility which will provide employment opportunities to over 640 people. The approved projects are proposed to be set up in Balasore, Balangir, Kalahandi, Khurda and Jajpur districts.