Odisha bags over Rs 4.19 lakh cr of investment intents

Wednesday, 14 November 2018, 04:52 Hrs
cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email

Orissa CMOdisha Chief Minister Naveen Patnaik on Tuesday said the state has secured investment intents worth over Rs 4.19 lakh crore at the second edition of the investors' meet.

"The total investment intents received by the state as a lead upto the event and during the event are to the tune of Rs 4,19,574 crore in the 15 diversified sectors with the potential to generate 5.91 lakh additional jobs for the people of Odisha," he said at the Make in Odisha Conclave.

He said the government will extend all necessary support and is committed to ensuring grounding of the investment proposals received at the event before the next summit in 2020.

The conclave saw tremendous response with 5,074 industry captains and delegates from India and abroad participating in the event, a state official said.

The second edition of the state's flagship summit received 183 investment proposals.

Elaborating further, Chopra said 37 proposals in fertiliser, chemicals and petrochemicals fetched an investment intent of Rs 1,35,309 crore.

There were 53 proposals in minerals, metals and downstream industries having a total investment intent of Rs 1,88,635 crore.

Besides, 6 proposals were received in industrial parks and 12 proposals in logistics sector.

Among the major players, Haldia Petrochemicals proposed to invest Rs 70,000 crore for setting up refinery and downstream industries in the state, said Industries secretary Sanjeev Chopra.

Jindal Steel and Power Limited proposed to infuse Rs 60,950 crore for its expansion of steel plant to 20 mtpa at Angul. Mahanadi Coalfileds Ltd proposed to invest Rs 58,997 crore in mining sector and a company from Taiwan proposed to pump in Rs 43,000 crore in petrochemical and chemicals sector, said Chopra.

Steel Authority of India (SAIL) has proposed to expand its Rourkela steel plant with an investment of Rs 41,400 crore. 

The conclave also received foreign direct investment from four countries including the Taiwan company. It received a proposal from Dutch-based company for logistic and infrastructure, food processing from a Thailand-based company and Japan.

The foreign investors have requested not to reveal their names, said Chopra.

The next edition of the "Make in Odisha" will be held during November 30 to December 4, 2020.

In the last edition in 2016, the state bagged about Rs 2.03 lakh crore of investment intents.

Read more news:

Top 3 Ways to Make a Website Design More Accessible and Successful

India witnessing heavy cyber attacks from Russia, US, China

Source: IANS
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Wiley, a global leader in research and education has announced a series of blended learning progr..
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..