The on Tuesday approved five Investment proposals in the Metal sector worth Rs 1.46 lakh crore with an aim to double steel production in the state over the next few years. While the states existing steel-making capacity is about 30 mtpa, the high-level clearance authority led by chief ministerNaveen Patnaikapproved another 27.5 mtpa capacity. All five approved proposals are expansion of existing facilities.
All these projects need a big push forward to realize Odishas dream of becoming the steel hub of India by 2030, Naveen said during the meeting. The national steel policy-2017, that aims to increase the countrys steel production to 300 mtpa by 2030, envisionsOdishaproducing 100 mtpa steel by that time.
Official sources in the state industries department said Odisha attracted investment opportunities of Rs 2.96 lakh crore during the 2020-21 financial year despite Covid. With Tuesdays additional investments, the total investments since last year will be in the region of Rs 4.43 lakh crore.
The approved projects include expansion ofBhushan Power and SteelLimiteds (BPSL) plant from 5 mtpa to 15 mtpa. Around Rs 55,000 crore will be invested in the expansion project located at Rengali in Sambalpur while it is expected to generate EMPLOYMENT opportunities for over 10,000 people.