Planned: Industrial clusters at Paradeep, Ganjam and Bhadrak
Odisha has incorporated a corpus fund of Rs.100 crore a year for aggregating land for industries and plans to set up industrial clusters at Paradeep, Ganjam and Bhadrak with offers of excellent investment opportunities for ancillary & downstream units in metal sector.
These moves would further boost the economic growth and business opportunities in the state, said Sanjay Kumar Singh, CMD of Odisha Industrial Infrastructure Development Corporation (IDCO).
Emphasizing on the existing and planned industrial infrastructure for the ancillary and downstream industries in Odisha, he said, “The state has incorporated a corpus fund of Rs.100 crore annually for the aggregation of land and keeping it readily available for industries.”
Land availability is a huge asset for the state of Odisha, pointed out Singh, also Commissioner cum Secretary of the State’s Skill Development & Technical Education Department.
IDCO has planned to take up development of three new metal downstream clusters at strategic locations of Angul, Jharsuguda and Kalinga Nagar, providing end-to-end facilities. Odisha offers significant investment opportunities for downstream units in Aluminium sector, Singh told the virtual Roundtable on Investment Opportunities in ‘Ancillary & Downstream Industries in Metal Sector in Odisha’ organized by the State Government and FICCI on 10 Mar 2021.
The requirement for ancillaries for such a large production base for the metals industry gives a good opportunity for investment, Hemant Sharma, Principal Secretary, Industries, informed the roundtable.
“The Vision 2030 document emphasizes on the prospects of ancillary and downstream metals sector in Odisha. The state is keen to attract investments from industry to set up facilities to boost beneficiation industry,” he said.
The state is planning to launch a unified portal, which would streamline all approvals and statutory applications for disbursement of incentives to downstream units in metal sector, he announced.
Apart from the raw material availability, Odisha plays a key role in the mineral & metals sector, according to Satish Pai, Chair, FICCI Non-Ferrous Metals Committee & MD, Hindalco Ltd. The state has grown at CAGR 12.8% between 2015 and 2019.
Odisha enjoys well-developed social, physical and industrial infrastructure and logistics facilities. The government is undertaking several infrastructural projects to further promote overall supportive logistics in the state, said Pai.
“Odisha is a preferred investment destination for downstream industries in metal sector,” added Dr Nitin B. Jawale, MD, IPICOL. #investment #manufacturing #projects #tenders /fiinews.com
