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Orissa approves investment of Rs 1 lakh crore

Last Updated: Tuesday, August 10, 2010 - 21:26

Bhubaneswar: Encouraged by revenue
collection to the tune of Rs 1,000 crore from companies
with whom MoUs were signed, Orissa government today approved
further investment of above Rs 1 lakh crore in aluminium,
power, cement and steel sectors, official sources said.

The major expansion projects included proposals of
Vedanta Aluminium Limited (VAL), Aditya Aluminium Limited,
Hindalco and Jindal India Thermal Power Project.

The state government received Rs 700 crore from steel
sector while Rs 300 crore came from aluminium industries, they

As many as 88 MoUs were so far signed for setting
up industries in steel, aluminium, power and cement sectors.

The government`s nod to new projects and expansion
proposals was accorded in a meeting of the High Level Clerance
Authority (HLCA) chaired by Chief Minister Naveen Patnaik.

The expansion proposals of three major aluminium
producing companies like Vedanta Aluminium Limited, Aditya
Aluminium Limited and Hindalco got approval of the HLCA,
industries secretary Sourav Garg said.

Aditya Aluminium was allowed to raise capacity of its
refinery from 1 mtpa to 1.5 mtpa while the company`s smelter
having existing capacity of 0.26 mtpa would be expanded to
0,36 mtpa, he said. "The company will invest an additional Rs
11,000 crore in the expansion activities," Garg said.

Similarly, Vedanta`s all three proposals to enhance
capacity of its smelter, refinery and CPP (captive power
plant) were also approved.


First Published: Tuesday, August 10, 2010 - 21:26

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