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Orissa hoping to bring in 
130 B worth investments
Tuesday, 06 May 2003, 19:30 IST
BHUBANESWAR: Orissa is hoping to attract investments worth around 
130 billion being planned by industries like the Sterlite Group, Jindal Steel and Bhusan Steel that are seeking to tap the state's rich mineral resources.
"Orissa has rich unexplored natural resources. The government wants to utilise this potential for the rapid industrialisation of the state. Top officials of several leading enterprises, including the Sterlite Group, Jindal Steel and Bhusan Steel have visited the state and formally agreed to participate in this industrialisation change," said an official of the industry department.
Bhusan Steel has proposed to set up a 1.2 million ton integrated steel plant at Lapanga in the district of Sambalpur. Aarati Steel wants to produce high value steel goods. Jindal has an 35 billion steel project proposal and a 100 MW power plant at an investment of 40 billion at Deojhar in Keonjhar district.
The state government has already signed memoranda of understanding with these companies, he said.
Sterlite Industries has made a proposal to set up an aluminium refinery project at Lanjigarh in the district of Kalahandi with an investment of around 40 billion, he said.
Bhusan Steel requires 12,66 acres to set up its plant. The state government has already moved for land acquisition, the official said. Of the 19 projects in the pipeline, eight are in an advanced stage.
Most entrepreneurs have time bound plans to invest in the industrial sector. The other companies operational in the state in the steel and power sector are Shyam DRI Power Ltd., SMS Power Plant and Nepaz Metalicks.
Source: IANS
130 billion being planned by industries like the Sterlite Group, Jindal Steel and Bhusan Steel that are seeking to tap the state's rich mineral resources.
"Orissa has rich unexplored natural resources. The government wants to utilise this potential for the rapid industrialisation of the state. Top officials of several leading enterprises, including the Sterlite Group, Jindal Steel and Bhusan Steel have visited the state and formally agreed to participate in this industrialisation change," said an official of the industry department.
Bhusan Steel has proposed to set up a 1.2 million ton integrated steel plant at Lapanga in the district of Sambalpur. Aarati Steel wants to produce high value steel goods. Jindal has an 35 billion steel project proposal and a 100 MW power plant at an investment of 40 billion at Deojhar in Keonjhar district.
The state government has already signed memoranda of understanding with these companies, he said.
Sterlite Industries has made a proposal to set up an aluminium refinery project at Lanjigarh in the district of Kalahandi with an investment of around 40 billion, he said.
Bhusan Steel requires 12,66 acres to set up its plant. The state government has already moved for land acquisition, the official said. Of the 19 projects in the pipeline, eight are in an advanced stage.
Most entrepreneurs have time bound plans to invest in the industrial sector. The other companies operational in the state in the steel and power sector are Shyam DRI Power Ltd., SMS Power Plant and Nepaz Metalicks.
Source: IANS