ITC plans Rs 550 crore investment in Odisha's Khurda plant

"ITC has announced Rs 550-crore investments in its plant in Khurda district over the next three years while Britannia Industries also announced to invest Rs 60 crore at its existing plant in the same district," state MSME department Additional Chief Secretary L.N. Gupta said.

Diversified conglomerate ITC would invest Rs 550 crore at its food processing plant in Odisha's Khurda district over next 2-3 years while Britannia Industries would pump in Rs 60 crore of investments at its existing facility in the same district for expansion, an official said on Monday.

"ITC has announced Rs 550-crore investments in its plant in Khurda district over the next three years while Britannia Industries also announced to invest Rs 60 crore at its existing plant in the same district," state MSME department Additional Chief Secretary L.N. Gupta said.

The state has 10 agro-climatic zones with all raw materials for the food processing industry, he said.

Multiple policy initiatives were announced including the extension of Capital investment Subsidy at 33 per cent of capital investment made in plant and machinery up to a limit of Rs 3 crore to differently-abled, technical degree/diploma holder entrepreneurs, providing the subsidy to self-financed food processing enterprises and unit, he said.

According to an official of the state government, the Adani Group has committed to developing an Rs 500-crore airstrip for captive use at Dhamra Port.