Jindal stainless, 2 others to invest Rs 1,640 crore in three parks in Odisha Jindal Stainless Steel, Gitanjali Infratech and Welspun Ltd will invest Rs 1,640 crore to set up three private industrial parks in Odisha. The state government late on Friday approved the proposals to set up the parks, which are expected to generate 7,900 direct and indirect jobs.

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Jindal Stainless

The projects were accorded approval at a meeting headed by the state’s chief secretary A P Padhi.

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Jindal Stainless Steel will set up a downstream stainless steel park at Kalinganagar at an investment of Rs 704 crore. The plant will have around 71 small and medium units in sectors like auto manufacturing, kitchenware, light engineering, pipes and tubes and service centres. Land requirement for the said project is 300 acres. This project has the potential to generate 4,800 jobs, including 3,600 direct and 1,200 indirect jobs.

Gitanjali Infratech proposes setting up a gems, jewellery, lifestyle and luxury goods park at Ramdaspur, Cuttack, at over 103 acres with an investment of 636 crore. The park will include facilities for processing technologies for cutting and polishing diamonds, precious and semi-precious stones, manufacturing of gold, silver, platinum and imitation jewellery.

These industrial processing facilities have been planned across 60.03 acres. The balance area of 29.23 acres will be leased out to other processing units of the diamond polishing and jewellery manufacturing sector. A total of 20 plots have been provisioned for the other industry players of the sector. Total employment potential of this project will be 4,000 during two years of phase one, followed by 5,500 employment opportunities in the next three years of second phase and 6,500 in the succeeding two years (third phase)..

The third proposal of Welspun Ltd to set up food processing, warehouse and electrical equipment park was also cleared by the panel. The unit would come up over 175 acres in Bhadrak district at an investment of Rs 300 crore. It would have units in sectors like edible oil, deep freezing, food storage, sea food processing, export oriented apparel unit and multi-modal logistic parks.

Info- economictimes

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