The Odisha government has approved four investment proposals worth Rs 464.72 crore, an official said. The implementation of the investment proposals will generate employment for more than 870 people.
The government approved a Medium Density Fibreboard (MDF) manufacturing facility with an annual capacity of 72,000 cubic meters. The facility will be set up by Galax Industries Private Limited with an investment of Rs 93 crore and provide employment to more than 310 persons, an official said.
A 120 KLPD grain-based distillery unit for manufacturing of Extra-Neutral Alcohol (ENA) or Ethanol and 4 MW cogeneration power plant was also approved which will be set up in Khorda and Nayagarh. The distillery unit will be set up by Globus with an investment of Rs 151.72 crore. It will provide employment opportunities to over 300 people.
Tripathy in a statement said that the state could attract investment of around Rs 1.19 lakh crore envisaging employment for over 54,131 people during the COVID-19 pandemic period. The investment proposals were approved by the state since February this year, he said, adding that this has been possible because of an enabling policy and ‘ease of doing business’.
The fourth project approved in the state is a four MTPA slurry pipeline project. The slurry pipeline will be set up by Envirocare Infrasolution Private Limited with an investment of Rs 100 crore.
Odisha has approved investment projects worth Rs 1,19,214.72 crore since February.