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Odisha approves investment of Rs 275 crore in power, steel, scandium sectors

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Odisha government on Saturday approved investment of about Rs 275 crore in power, steel and scandium sectors.

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The state-level Single Window Clearance Authority headed by chief secretary A P Padhi approved the proposals, two of which came through e-biz portal, officials said.

It approved the proposal of Tata Sponge Iron Limited (TSIL) for expansion of its captive power plant by 12.5 MW at an investment of Rs 50 crore.

It does not require additional land for the purpose, said Kalyan Mohanty, the general manager of IPICOL (The Industrial Promotion & Investment Corporation of Odisha Limited) and the project will provide direct employment to 50 people.

The authority also approved the proposal of Beekay Steel Foundation, which planned to set up 0.30 MTPA rolling mill (TMT bars) at Kalinganagar Industrial area involving investment of Rs 105.87 crore and provide direct employment to 180 people, Mohanty said.

The committee headed by Padhi also approved a proposal of Saraf Agencies Pvt Limited to set up scandium oxide plant of 2.4 ITA capacity and Ferro Titanuim Plant of 5000 TPA capacity at Chhatrapur of Ganjam district.

The scandium plant would be set up at an investment of Rs 90 crore, Mohanty said adding that together the three projects would provide direct employment to 384 people, the officials said. PTI

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