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Odisha govt clears IMFA's Rs 547 crore for ferro chrome unit at Kalinganagar

BHUBANESWAR: The Odisha government on Saturday approved six investment projects including Odisha-based IMFA’s proposal for a ferro chrome unit . The six projects with total investment potential of Rs 1753.82 crore in six different sectors would altogether generate 5566 jobs.


Indian Metals and Ferro Alloys Limited (IMFA) would set up a 96,000 MT per annum ferro chrome unit and 10 MW waste heat recovery boiler power plant at Kalinganagar in Jajpur district .



“The company will invest Rs 547.19 crores as the new unit will clear employment opportunities for 900 people,” said a senior state government officer, part of the SLSWCA after the meeting.

Chief minister Naveen Patnaik’s friend-turned-foe and BJP vice president Baijayant Panda is the vice-chairman of IMFA while his younger brother Subhrakant Panda is the managing director of the company.

Chief secretary Asit Kumar Tripathy chaired the SLSWCA meet that generally approves projects with individual investment potential of less than Rs 1000 crore.

An expansion project by Shri Jagannath Steel & Power Limited for expansion of its existing integrated steel plant at Uliburu in Keonjhar district involves highest investment of Rs 835.34 crore among the six projects cleared in the meeting. The unit would enhance its capacity from 0.1 mtpa to 0.3 mtpa providing additional employment of 501 people.

The SLSWCA also cleared a proposal of Page Industries Ltd that produces garments under Jockey brand to set up a garment manufacturing unit at Khurda with an investment of 257.50 crore. The unit would generate 3,500 jobs.

“Since employment generation is major focus of the state government, we focus more on employment-intensive industries,” the official said.

Among others, the government also approved the proposal of Jay Bharat Spices Pvt Ltd for diversification of its unit with addition of potato chips/puffed snack and cold storage facilities in Cuttack district. The company will invest Rs 50.10 crore while creating additional employment opportunities for 550 people.

In the tourism sector, one of the focus sectors of the state government, the state government approves a proposal of the Deo Residency & Resorts Pvt Ltd for expansion of its existing hotel at Baragadia at Kalinganagar in Jajpur. It will invest Rs 53.69 crores for the expansion.

Another expansion projects by Shree Malani Foams Pvt. Ltd, that produces Centuary brand of mattress, also got SLSWCA nod for additional investment of Rs 10 crore at its Khurda unit.

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