JHARSUGUDA/BHUBANESWAR : Enterprise Odisha, the state’s flagship business summit, conducted for the first time at the industrial town of Jharsuguda attracted investments worth around Rs 23,389 crore on Friday.
Addressing the three-day event organized by CII in collaboration with the state government on the virtual platform, Chief Minister Naveen Patnaik said Jharsuguda, Rourkela, and Sambalpur have contributed not only for the development of the state, but also on a national scale. “The summit is poised to narrow the gap of development within the state, fostering stronger growth,” he said and urged the investors to take the advantage of the offerings of the government for rapid industrialization of western Odisha region.
The investments have been committed by 11 companies. India’s leading manufacturer of specialty carbon products Epsilon Carbon Pvt Ltd has signed an agreement with the state government to set up an integrated carbon complex at Jharsuguda. The company has committed an investment of Rs 10,000 crore over next 10 years.
The carbon complex will have a specialty carbon unit with a capacity of five lakh tonne per annum, carbon black unit with three lakh tonne capacity and advanced materials unit with 75,000 tonne capacity. The project is expected to create 2000 direct and indirect job opportunities, contributing to the socio-economic development of the region.
Ind Barath Energy Utkal Limited signed MoU to set up an 800 MW ultra super critical coal-based thermal power plant at Jharsuguda with an investment of Rs 6,012.46 crore. Orissa Metallurgical Industry Pvt Ltd will set up a two million tonne per annum (MTPA) integrated steel plant, 240 MW captive power plant, one MTPA cement grinding unit and two MTPA private railway siding at an investment of Rs 5,200 crore.
Similarly, SMEL Steel Structural Pvt Ltd will establish 1.2 lakh tonne capacity aluminum strip, FRP and battery foil plant at Sambalpur at an investment of Rs 893 crore and Shyam Shakti Metals Pvt Ltd will set up a structural and pipe mill of six lakh tonne capacity at Rengali with an investment of Rs 650 crore.
Chief Secretary PK Jena said the investments will create huge opportunities for the entrepreneurs, especially the young ones. There is a competition among states to come up with attractive policies and Odisha stands out in terms of implementing the policies, he said.
Principal secretary of Industries Hemant Sharma said Odisha’s steadfast dedication to its policies has positioned it as an attractive destination for investment. Jharsuguda is the state’s industrial capital with major investments from renowned companies including Hindalco, Vedanta, MCL and JSW, he added. Chairman of Western Odisha Development Council (WODC) Asit Tripathy also spoke.
Proposals
Epsilon Carbon has committed Rs 10,000 crore for integrated carbon products
Bharat Energy Utkal to invest Rs 6,012.46 crore for thermal power plant
Orissa Metallurgical Industry will invest Rs 5,200 crore for steel plant
SMEL Steel Structural Rs 893 crore for aluminium strip facility
Shyam Shakti Metals Rs 650 crore for structural and pipe mill