Odisha approves 22 investment proposals worth 3,855 INR-Crore

The State Level Single Window Clearance Authority (SLSWCA) has approved 22 investment proposals worth an estimated 3,855 INR-Crore. The investments cover 11 sectors across 12 districts, focusing on emerging areas such as paper, packaging, tourism and compressed biogas (CBG). Additionally, it includes specialized chemicals, pharmaceuticals and technology-enabled services.

The paper, packaging and plastics sector has attracted two major investment proposals. These proposals are worth 1,029.91 INR-Crore. Alisha Torrent Closures (India) Pvt Ltd will invest nearly 529.91 INR-Crore in Nayagarh. The facility will manufacture caps and closures for the bottled beverages. Meanwhile, Stark Ridge Pvt Ltd will set up a 500 INR-Crore paper and paper products in Khurda with an annual capacity of 1.08 Lakh MT corrugated boxes and 99,000 MT paper. Additionally, it will produce 48,000 MT paper bags and mono cartons. 

The tourism projects has a total estimated investment worth 1,035.62 INR-Crore. The projects involve hotels, luxury resorts, and a convention center across Khurda, Jharsuguda, Puri and Cuttack. 

1. Ashirbad Engineering and Construction Pvt Ltd will invest 310 INR-Crore in a a five-star hotel in Khurda. 
2. Swami Resorts Pvt Ltd will establish another five-star hotel in the district with an investment of 153 INR-Crore
3. The Royale Nest Hospotality has proposed to invest 150 INR-Crore in a five-star luxury resort with a convention center in Jharsuguda.
4. In Puri, Srikrishna Estates and Construction will invest 135 INR-Crore in a high-end destination resort. 
5. KP Prime Assets will establish a five-star luxury hotel estimated to be 120 INR-Crore.
6. Maa Bhattarika Minerals will invest 64.04 INR-Crore in a four-star riverfront resort in Mahanadi Alaya in Cuttack. 

Also Read: Upcoming Mixed-Use Development – Valor L&T Conrad, BKC, Mumbai

Odishar investment proposals also include significant plans in the Renewable Energy sector, 

1. The Indian Oil Corporation has proposed a compressed biogas plant (CBG) with an estimated investment of 360 INR-Crore. It will have an annual production capacity of 14,850 Tonnes across Angul, Jajpur, and Sambalpur. 
2. Kineta Global Ltd will invest 170 INR-Crore in an 8,250 Tonne Per Annum facility in Sundargarh. 
3. Sree Metaliks Bio Energy will invest an estimated 150 INR-Crore in a 6,600 Tonne facility in Balasore. 

These three projects represent total estimated investment of 680 INR-Crore and annual CBG production capacity of 29,000 Tonne. 

Moreover, in the steel downstream sector,

1. MPIL Steel Structures will set up a heavy steel structure fabrication plant in Jajpur with an investment worth 200 INR-Crore with a proposed annual capacity of 25,000 Tonne. 
2. Armour industries will invest in a manufacturing facility for structural steel fabrications, blast furnace equipment, mining, material handling equipment and  precision machined components. 
3. Saha Steel Pvt Ltd will invest worth nearly 72.81 INR-Crore in Sambalpur to manufacture pre-engineered building systems, cold formed purlins, girts, decking and profile sheets. 

Furthermore, Odisha received investment proposals in the emerging advanced manufacturing sector including,

1. Stonehawk Technologies will invest an estimated 65 INR-Crore in an integrated unit for drones and unmanned aerial systems.
2. Classic Technologies & Trade will invest 52 INR-Crore in an integrated aerospace manufacturing facility in Khurda. 
3. RB Abodes Pvt Ltd has proposed to establish an integrated logistics park in Ganjam with an investment of 209.35 INR-Crore. Additionally, it will include a 5 MW rooftop solar power plant. 

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