Odisha approves 3 investment proposals worth Rs 255 crore

Odisha government approved three investment proposals worth Rs 255 crore, which will create direct employment opportunities for about 430 people, officials said.

Govt accorded approval to M B Limited to set up a fruit-based beverage manufacturing unit at an investment of Rs 140 crore. The unit has been proposed in Khurda district and envisages creation of employment for 150 people.

The project proposal of wires and cables maker A C Pvt Ltd to set up a greenfield aluminium conductors and cables manufacturing unit at the Angul Aluminium Park, with a capacity of 30,000 ton per annum, was also approved. The investment outlay was Rs 52 crore with employment potential for 180 persons.

ITC Ltds food processing unit coming up at Khurda also received approval to expand the product line. The construction work of the unit is currently in progress. The expansion of the project would entail additional investment of Rs 63 crore and create employment for 100 people.

According to Odisha Industries Secretary Sanjeev Chopra, 124 investment intents were received during the investors meets organised in 2016 at Mumbai and Bengaluru, and in the Make in Odisha Conclave 2016.

Out of this, the state has already converted 76 intentions to concrete project proposals, and all these proposals envisaging investment of Rs 2.02 lakh crore have been approved in SLSWCA, Chopra said.

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