Bhubaneswar: Providing much-needed impetus to industrialisation ahead of the 'Utkarsh Odisha: Make in Odisha Conclave 2025', the state government approved investment proposals worth Rs 3,883.72 crore in 17 projects on Wednesday.
The meeting of the State Single Window Clearance Authority, chaired by Odisha Chief Secretary Manoj Kumar Ahuja, gave its nod to these 17 projects, expected to create employment opportunities across the state for nearly 12,280 youths.
An official release stated that the approved projects cover various sectors such as steel, iron and ferro alloys, power and renewable energy, pharmaceuticals, chemicals, green hydrogen, transportation and tourism. These projects will strengthen the industrial base across eight districts: Sambalpur, Rayagada, Ganjam, Jajpur, Angul, Khurda, Dhenkanal, and Jharsuguda.
Big Boost To Employment
The BR Steel and Power Limited in Sambalpur will invest a whopping Rs 871 crore to establish a steel plant in the region. This is likely to create job opportunities for 5,137 youths. Similarly, Quantum Solar Technology will set up a solar equipment manufacturing unit with an investment of Rs 57 crore, generating 350 jobs. The Alps Mining Services will establish a coal washery plant in Sambalpur at Rs 61.5 crore, offering 450 jobs.
The government has also approved four projects in Ganjam district, which include two pharmaceutical ventures by Hetero Drugs and Honor Lab Limited, each investing Rs 300 crore, simultaneously creating 1,500 employment opportunities. On the other hand, Vikas Hospitality will establish a hotel with an investment of Rs 60 crore, creating 155 jobs. Shri Jagannath Lime and Chemicals has decided to set up a quick lime factory at a cost of Rs 59.02 crore. Similarly, the government approved four projects in Jajpur district, one each in Rayagada, Jharsuguda, Angul, Dhenkanal and two projects in Khurda.
Sixth State Finance Commission Constituted
Meanwhile, the Odisha government constituted the Sixth State Finance Commission under the leadership of former IAS officer Arun Kumar Panda. The five-member panel includes Prof Asit Ranjan Mohanty (XIMB), Prof Ameresh Samantaray (Pondicherry University), Bibhu Prasad Nayak (TISS), along with Finance Department Additional Secretary Satya Priyanka Rath as Member Secretary.
The Committee, which has been formed after Governor's approval, will be functional for six months and provide policy recommendations for fund allocation to Panchayati Raj Institutions and Urban Local Bodies for the next five years.
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