Rs 50,000 cr worth of investments already in Odisha (Orissa)

Odisha, which has signed 86 MoUs in steel, alumina, cement and power sectors lining up a total of Rs 4.11 lakh crore during the last five years, has already received investment to the tune of Rs 50,000 crore by now.

"We have already got investments worth Rs 50,056 crore by now of the total proposed investment of Rs 4,11,726 crore in the state," said state industries minister, Raghunath Mohanty.

The minister said of the total 86 MoU projects, 32 units including 29 in steel sector have gone into various stages of production. These MoU projects have employed 72,561 persons in the state, he added.

In steel sector, 29 of the 50 MoU companies have gone into various stages of production during the last five years. These 29 units have established 7.79 million tonne steel production capacity.

Mohanty said Vedanta Resouces's 1 million tonne alumina plant in Lanjigarh, 2.5 lakh tonne smelter and 1215 mw captive generating plant in Jharsuguda have gone into production.

He said that the state government's nodal agency for escorting the investors, IPICOL, had received 63 combined applications proposing Rs 2,97,508 crore in the state during 2009-10. Besides, according to him, the state government is expecting an investment to the tune of Rs 2.79 lakh crore in the proposed Petroleum, Chemicals & Petro-chemicals Investment Region (PCPIR) at Paradip and Rs 3,600 crore in the Multi-product Special Economic Zone promoted by Tata Steel at Gopalpur.