By Bizodisha Bureau, Bhubaneswar, August 15, 2020: Odisha seems to have weathered the COVID-19 pandemic to come on top in terms of growth rate in agriculture and wooing investment in the last six months.

This is reinforced with the statement of Chief Minister Naveen Patnaik on Saturday that Odisha has received investment proposals of Rs 12,000 crore during the coronavirus pandemic and its growth rate in agriculture was 7.61 percent in 2019-20 compared to the national average of 2.8 percent.

Unfurling the National Flag on the occasion of the 74th Independence Day here, Patnaik said Odisha has received 18 per cent of the investment proposals received by the country and has become the number one state in the country by putting behind other developed states.

Earlier, the Naveen Patnaik led government had approved fresh investments valued at over Rs 9600 crore that includes the proposal by Rungta Mines Ltd to ramp up steelmaking capacity from 0.9 million tonnes per annum (mtpa) to 2.85 mtpa at a cost of Rs 7836.9 crore and Dhunseri Ventures Ltd’s plan to install maleic anhydride manufacturing unit with an investment of Rs 1013.29 crore and a proposal by Niren Kumar Anand for setting up a footwear manufacturing unit with an envisaged capacity of one million pieces at an investment of Rs 62.44 crore and promising employment for 620 people.

Besides, it vetted three other investments proposals. Kashvi International has proposed to set up 1.2 million tons iron ore beneficiation plant at a cost of Rs 55.23 crore, Purosteel India Pvt Ltd’s proposal to set up a manufacturing unit for tubes & pipes PVD coating and finished sheets and profiles at an investment of Rs 53.42 crore and Rs 80-crore investment proposal by Odisha Carriers & Trade to set up three logistics parks cum fulfillment centers.

In July last week, the state government cleared four investment proposals in metal and metal downstream sector worth Rs 2172.92 crore, which will generate employment opportunities for 1,122 people. The approved proposals include the plan of Rungta Mines Limited (RML) to set up a 34 mtpa beneficiation plant in Sundargarh district with an investment of Rs. 975 crore in two phases, with employment potential of about 290 people.

RML has also proposed to set up a 20 MTPA underground slurry pipeline from its proposed beneficiation plant at Bonai / Champua sub-division to its three different plant locations also got SLSWCA with an investment of around Rs 951 crore.

Few states can match Odisha’s huge mineral resources base, surplus water and power as well as five deep sea ports (including two under construction). The mix of resources as well as critical strategic placement and infrastructure that has come up in the last 20 years due to the stable government are very effective factors for investors.

The investment proposals are more centered around metal and metal downstream followed by petrochemicals and chemical industries; textile and apparel industry; electronics; tourism and health and the pharmaceutical sector. Barring electronics, the state has done relatively well in other sectors.

Meanwhile, Odisha government is working on a plan to recast its Industrial Policy Resolution (IPR) before it lapses in August, aiming to get investments when the coronavirus outbreak has been brought under control.