India has become a market that you can’t ignore: Global experts
India has become a market that you can’t ignore, pushed on by government reforms and a booming tech industry, top industry experts have said.
The Odisha government today approved five investment proposals of Rs 328 crore, which would provide jobs to 1674 people. The government’s nod to the projects were given at the meeting of the State Level
Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Mr. Aditya Prasad Padhi.
The SLSWCA accorded approval to set up a manufacturing unit with a capacity to produce 35,000 tonnes per annum aluminium alloy conductors as well as alloy wires and rods at Angul Aluminium park. With an investment of Rs 75 crore the project will help create direct and indirect employment for 425 people, official sources said.
Another downstream project for setting up a manufacturing plant to produce 33,500 tonnes per annum aluminium and alloy downstream products at Angul Aluminium Park was also cleared. The project entails an investment of Rs 56.87 crore and would provide employment to 250 people.
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In a bid to support downstream players setting up units in Angul Aluminium Park, the state government is giving a discount of Rs 10 lakh per acre towards land cost, while NALCO is offering a price discount of Rs 4000 per tonne on aluminium ingots and Rs 5000 per tonne on molten metal.
Such initiatives are making the business ecosystem in Angul Aluminium Park more lucrative for the investors. A proposal to set up a poultry processing plant at Khurda industrial area and a poultry pellet feed plant at Sea Food Park, Deras was also approved today. Another pellet feed plant proposed to be established at Bhadrak by the same firm was also given clearance with a cumulative investment of Rs 50.27 crore. The three units, together, would provide employment to 486 people.
The SLSWCA also cleared a proposal to set up 30,000 tonne per annum vegetable oil manufacturing unit at Khurda industrial area. The project entails an investment of Rs 91.45 crore and will create employment for 384 people, said official sources. A hotel project at Cuttack with an investment of Rs 54.50 crore was also cleared.
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