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Business EconomyPosted at: Sep 29 2016 6:10PM


Odisha approves IFFCO and Well Spun Odisha projects

Bhubaneswar, Sep 29 (UNI) The Odisha government today approved the Project proposal of Indian Farmers Fertilizer Cooperatives ( IFFCO ) and Well Spun Odisha Steel Pvt Ltd at an investment proposal of Rs.224 crore.
The Single Window Clearance Authority meeting held today under the Chairmanship of Chief Secretary Aditya Prasad Padhi approved the two new projects.
Talking to newsmen here IPICOL General Manager Kalyan Mohanty said the project proposal of IFFCO for setting up a railway siding at new Paradeep station yard was approved in the meeting.
The project envisaged investment of Rs 63.55 crore would be completed within 14 months. Around 49 acre of land required for the siding has also been identified. IFFCO, he said would also allow other companies to use this siding.
The other approved project was the proposal of Welspun Odisha Pvt Ltd to set up 0.27 MTPA long product (steel) facilities center at Dosingha near Dhamara of Bhadrak district.
The proposal envisaged investment of around Rs 160.15 crore which would provide employment to around 915 persons. The land required for the purpose is around 40 acres.
Mr.Padhi also reviewed the status of the investment proposals mobilized in Make in India week at Mumbai during in February last and the recent Odisha Investors Meet in Bengaluru .
Official sources said so far 14 project proposals envisaging investment of around Rs.70,959 cr has been mobilized and expedited.
In the meanwhile 2 companies namely Geetanjali Exports and Deepak fertilizers have already grounded the project. Similarly, from among the investors met at Bengaluru, around 26 companies have been mobilized to submit detail project proposals envisaging investment of around Rs90,670 crore.
Two companies have also scheduled the grounding of their projects during November, 2016.
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