Development News Edition
Give Feedback

Odisha receives investment commitments worth Rs 4.19 lakh cr


PTI bhubaneswar Last Updated at 13-11-2018 22:40:38 IST India

Odisha Chief Minister Naveen Patnaik Tuesday said that investment commitments to the tune of over Rs 4.19 lakh crore have been received during the ongoing 'Make in Odisha' conclave here.

The proposed investments have the potential to generate 5.91 lakh additional employment opportunities for the people of the state, he said.

"Total investment intents received by the state during this event are to the tune of Rs 4,19,574 crore in 15 diverse sectors," Patnaik told reporters here.

He also announced that the next edition of the conclave will be held during November 30 to December 4, 2020.

The 2018 edition of the event has seen participation from 5,074 industry captains and delegates from India and abroad. Japan is the partner country this year.

Around 31,806 people have visited the industrial expo so far, which will conclude on November 15.

"The 2nd edition of MIO Conclave has been a defining moment in the history of industrialisation of Odisha. I would like to thank the industry for joining us and reposing their trust in the state and her people," the chief minister said.

A total of 183 investment proposals for different sectors were received during the conclave, while the highest number of 53 intents involving over Rs 2.36 lakh crore were received in minerals, metals and downstream sectors with a potential to generate over 1.88 lakh job opportunities, Chief Secretary A P Padhi said.

Thirty-seven proposals with a promised investment of over Rs 1.35 lakh crore were received in fertiliser, chemicals and plastic sectors, having a potential to generate 73,205 employment opportunities, he said.

Six proposals came in for setting up of industrial parks with a total investment of Rs 8,432 crore, Industries Secretary Sanjeev Chopra said.

Naming the top five investment intents, he said Haldia Petrochemicals has committed investment to the tune of Rs 70,000 crore, followed by Rs 60,950 crore from Jindal Steel and Power Ltd (JSPL), Rs 58,797 crore by Mahanadi Coalfields Ltd (MCL), Rs 43,000 crore by a Taiwanese company and Rs 41,000 crore by SAIL.

Four FDI proposals worth Rs 46,650 crore were received from Japan, Taiwan, the Netherlands and Thailand for projects in areas like food processing, petrochemicals and logistics, Chopra said.

A Hyderabad-based private company has come forward with a proposal to invest Rs 1,650 crore in the aerospace and defence manufacturing sectors, he said.

Officials said that the conclave will further the vision of the state to broad-base the industrial growth with a slew of investment proposals in sectors such as chemicals and fertilisers, petrochemicals, food processing, healthcare, tourism, renewable energy and electronics, which will create new employment opportunities for skilled youth.

"I am confident that the policy ecosystem and the investment opportunities showcased in the conclave and the deliberations held at the various sessions would help the state emerge as the most preferred investment destination in the country," Patnaik said.

Meanwhile, five MoUs were signed at the conclave on Tuesday between the Odisha Skill Development Authority (OSDA) and five organisations -- FICCI, Schneider Electric India Foundation, Yess Consultant, Tech Mahindra Ltd, Employability Bridge/Surgeforth Technologies Private Ltd.

On Monday, investment commitments totalling over Rs 1,38,000 crore were received, as RIL Chairman Mukesh Ambani, Aditya Birla Group Chairman Kumar Mangalam Birla and other industry captains pledged to pump in additional funds into existing projects in the state.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


add banner

LEAVE COMMENT