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Industries
The mineral-rich State of Orissa is on the threshold of a major industrial leap. E ndowed with vast natural resources - mineral, marine, agricultural and forest wealth, the State Government is determined to take full advantage of the sweeping changes happening in economic reforms and surge ahead. Apart from the country's deepest port at Paradip, a wide network of new railway linkages connecting strategic locations and roads and national highways under PMGSY is fast emerging. |
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| With these advantages Orissa has become a major destination of steel plants, thermal power plants, alumina/aluminium projects, sponge iron companies and oil refineries. And the State Government is trying its best to woo large investors in not just setting up mega plants but also in development of infrastructure and periphery growth to boost empowerment of the marginalized, improve the economy and create employment. |
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The State Government has already signed MoUs with 43 companies for establishment of steel plants. Mega plants proposed to be established by some global majors include Posco, the Tata Steel, Essar and Jindal Power and Steel Company. Posco's proposed Rs 51,000 crore Paradip project is considered the highest FDI in the country.
The industrialisation initiative got a major boost with the visit of the sultan of steel, LN Mittal, when the chairman of Arcelor Mittal proposed a steel plant in the State. The 12-million tonne plant will be built in two phases with an investment of Rs 40,000 crore. |
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