Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Odisha government has approved seven investment proposals worth Rs32.05bn in different sectors to boost industrial activities according to media reports. The sectors include metal, metal downstream, infrastructure, tourism and cement. 


The investment plan was approved by the State Level Single Window Clearance Authority (SLSWCA) with an aim to generate employment for over 2,400 people in the State.


Of the seven proposals, MGM Minerals proposed expansion of its project by setting up 125,000mt sponge iron plant, 600,000mt pellet plant, 250,000mt MS billets, 250,000 mt TMT and wire rods annually at Nimdha in Dhenkanal entailing an investment of Rs8.01bn. 


GM Iron and Steel plans expansion by setting up 800,000mt pellet plant, 237,900mt of DRI plant, 195,000mt billet, 240,000mt wire rod mil, 416,000mt slag cement annually and 46MW captive power plant entailing an investment of Rs6.07bn.


A proposal of Envirocare Infrasolution for setting up iron ore beneficiation plant with an annual production capacity of 3.6mn mt at Koira in Sundergarh with a total investment of Rs 6bn also got the governments nod.


Hindalco Industries proposed for setting up flue gas desulphurization plant (FGD) for its existing CPP (6×150 MW) at Lapanga, Sambalpur with an investment of Rs 6.96bn 


Other projects include proposal of Lifeline Multi-ventures to set up a five-star hotel; JSW Cement for expansion of cement grinding capacity from 1.2mn mt to 2.4mn mt and expansion of Jajpur Cements’ cement grinding capacity from 500,000mt to 1.5mn mt at Kalinga Nagar.




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