By Bizodisha Bureau, Bhubaneswar, August 19, 2019: The 20th High Level Clearance Authority (HLCA) meeting chaired by Odisha Chief Minister Naveen Patnaik on Monday cleared five projects entailing an investment worth of Rs 2.04 lakh crore.

These proposals will create employment opportunities for 27645 people. All the proposals approved in the meeting belong to the focus sectors identified by the state government i.e., Chemicals and Petrochemicals and Metal Downstream.

Industries principal secretary, Sanjeev Chopra at the meeting outlined the project proposals for consideration. This is the highest ever investment approved by the HLCA so far.

In a major breakthrough in the Petrochemical sector, the HLCA gave its nod to two giants – Haldia Petrochemicals (HPL) and Indian Oil Corporation Ltd (IOCL) for setting up their projects at Odisha.

HPL will set up a Hydrocarbon processing complex comprising of a light crude oil refinery, Aromatics complex and Ethylene Cracker Complex near the proposed Subarnarekha port, in Balasore district with a total investment of Rs 78225.00 crore, providing job opportunities for around 10000 people.

Similarly, the petrochemical major, IOCL will expand its existing refinery unit from 15 MMTPA to 25 MMTPA, and set up of a Petrochemical complex comprising a Dual Feed Cracker, Naphtha cracker and Petcoke Gasification Plant at Paradip, with a total investment of Rs 100300 crore, employing around 12595 people. The project will ensure the availability of building block feedstock to ancillary and downstream units in the Chemical and Petrochemical sector.

IOCL also has proposed to set up 1.2 million metric ton per annum (MMTPA) capacity of PX-PTA (Purified Terephthalic Acid complex) with an investment of Rs 9136 crore in its existing Paradip the refinery, employing around 3200 people.

These would not only make the state a Petrochemical hub, propelling the growth of downstream petrochemical units in the state, but also make Odisha, the Energy Gateway of the East. Both the projects being port-based would also facilitate export and import trading.

In the metal downstream Sector, the HLCA approved the proposal of Jindal (India) to set up a Cold Rolling Complex of 0.50 MTPA and Steel Processing Plant at Kalinga Nagar Industrial Complex, Dist. Jajpur, with a total investment of Rs 1676 crore, providing employment to about 1300 people.

Another the proposal by Talcher Fertilizer to set up a Coal based Urea Fertilizer complex of capacity 1.99 MMTPA at Talcher with an investment of Rs 14732 crore, employing around 550 people were also approved.