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Government of Odisha approves industrial projects of IOCL, HPCL and 5 others worth INR 2083.88 Crore at the 102nd SLSWCA meet

Posted On: 2021-08-01 06:10:53 (Time Zone: UTC)

The 102nd meeting of the State Level Single Window Clearance Authority (SLSWCA) held today under the chairmanship of the Chief Secretary of Odisha, Shri Suresh Chandra Mahapatra (IAS) approved 7 industrial projects including 3 grain-based Ethanol plants to the tune of INR 2083.88 crore. Other projects belong to the Renewable Energy, Logistic and Tourism sectors. These industrial projects are further expected to create employment opportunities for 2,144 persons in the state.

The details of the seven projects for which in-principle approval was accorded by SLSWCA is listed below:

- A 500 KLPD grain-based Ethanol Plant and 8MW Co-gen Power Plant by Indian Oil Corporation Ltd against an investment of INR 870 crore to be set up in Balgopalpur Industrial Estate, Balasore, which will generate potential employment opportunities for over 194 persons.

- A 500 KLPD grain-based Ethanol Plant (in two phases) by Hindustan Petroleum Corporation Limited against an investment of INR 500 crore to be set up in Umerkote, Dist - Nabarangpur, which will generate potential employment opportunities for over 240 persons.

- A 100 KLPD grain-based ethanol plant along with Compressed Biogas(CBG) plant of 12 TPD capacity and 2.20 MW Co-gen power plant by Newalt Energy Private Limited against an investment of INR 125 crore to be set up at Nuakheta, Bantala, Dist - Angul, which will generate potential employment opportunities for over 650 persons.

- A Multi-Modal Logistics Park by International Cargo Terminals and Infrastructure Private Limited against an investment of INR 150 crore to be set up at Kujang, Dist - Jagatsinghpur, which will generate potential employment opportunities for over 100 persons.

- An 18.75 MW Solar Power Plant by Aditya Birla Renewables Limited against an investment of INR 89.44 crore to be set up at Saintala, Dist - Balangir, which will generate potential employment opportunities for over 28 persons.

- A 5-star hotel by Atmosphere Core India Private Limited against an investment of INR 184.64 crore to be set up at Bhubaneswar, Khurdha, which will generate potential employment opportunities for over 469 persons.

- A 5-star hotel by D N Homes Private Limited against an investment of INR 164.80 crore to be set up at Chandaka Industrial Estate, Khurdha, which will generate potential employment opportunities for over 463 persons.

Government of India has fixed a target of 10% blending of fuel-grade ethanol with petrol by 2022 and 20% blending by 2025. The 3 approved units will surge to the existing capacity and help reduce the carbon footprint.

Odisha is an industry upcoming state. The number of companies investing and commencing operations in the state have been phenomenal last couple of years and such diversification of industries will further enhance industrial growth.

Shares of INDIAN OIL CORPORATION LTD. was last trading in BSE at Rs. 103.2 as compared to the previous close of Rs. 103.9. The total number of shares traded during the day was 1793579 in over 10553 trades.

The stock hit an intraday high of Rs. 106.25 and intraday low of 102.85. The net turnover during the day was Rs. 186757021.

Source: Equity Bulls

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