Odisha Economic Corridor Receives Approval



Odisha Economic Corridor Receives Approval

In a significant development, the proposal by the Government of Odisha for inclusion of Odisha Economic Corridor (OEC) under the National Industrial Corridor Development Program has been approved by the National Industrial Corridor Development and Implementation Trust (NICDIT). The Board of Trustees has agreed for initiation of the project development activities for the priority clusters identified for implementation under Phase-1 in the two nodes based on focused sectors identified by the State Government.

OEC will be a part of the northernmost stretch of the East Coast Economic Corridor (ECEC), the first coastal economic corridor planned in the country. The corridor has a potential to generate over INR 4 lakh Crore of manufacturing output, INR 81 Thousand crore of investment and an additional 8 Lakh direct jobs by 2025.

Two nodes have been prioritized in the influence region of the transport network (NH-16) through assessment of factors including land availability, highways, large cities, existing industrial infrastructure and port. 100 km on each side of NH-16 has been taken as the Corridor Influence Area. Node-1 called the GBK node includes 6 clusters with 6,153 acres land area in Gopalpur, Bhubaneswar, Kalinganagar industrial areas of the Ganjam, Khurda, Cuttack and Jajpur districts. Node-2 called the PKDS node includes 8 clusters with 10,558 acres of land area in the Paradip, Kendrapada, Dhamra and Subarnarekha industrial areas of the Jagatsinghpur, Kendrapada, Bhadrak and Balasore districts. New land parcels to be added during the development phase of the nodes.

Located on the east coast of India, Odisha has a coastline of 480 kms along the Bay of Bengal. The modern State of Odisha was formed on 1 April, 1936 but its history dates to the era of Kalinga mentioned in the Mahabharata. Over the years the state has maintained a unique cultural identity distinct from all of its neighboring States. Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth. The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State. This website is a one-stop location for all such information.

Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State. IPICOL is responsible for devising the investment promotion, facilitation and aftercare strategy for The state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha undertakes all activities to promote Odisha as the investment destination of choice

Source: Press Release