By Bizodisha Bureau, Bhubaneswar, May 26, 2016 : Odisha will have National Investment and Manufacturing Zone (NIMZ) with a total investment of Rs 4241 crore, according to union Petroleum and Natural Gas Minister Dharmendra Pradhan.

The project will come up at Kalinga Nagar Industrial Area in Jajpur district will create jobs for around 1.5 lakh people.

The Union Commerce and Industry department has approved the establishment of NIZM, Pradhan on Thursday told reporters at New Delhi.

“The Commerce department of the Government of India has finalized to set up a National Investment and Manufacturing Zone in Odisha. The project will have an investment of Rs 4,241 crore. By 2020 Rs 3816 crore will be invested in the project in the first phase. It will be a manufacturing hub based on iron ore, iron, and other metals,” said Pradhan.

Earlier Pradhan had met Union Commerce and Industry Minister Nirmala Sitharaman and urged for setting up NMZ in Odisha.

This will be the third Investment and Manufacturing Zone of India and required 163 square kilometers area.

The mega industrial zone will be also having a world-class township to cater to the needs of the investors, the sources added.