Search Result for : Odisha

The Dollar Business Bureau Bauxite production in India is likely to increase to 49.4 million tonnes by 2021 from 22.08 million tonnes in 2016, according to a report.   The production of bauxite in the country is estimated to be 26.1 million tonnes in 2017, an increase of 18 compared to last year 2016, the report by BMI Research said. The production of the metal is likely to reach to 49.4 million tonnes in 2021, the report said.  “We forecast Indian bauxite production to grow from 26.1 million tonnes in 2017 to 49.4 million tonnes in 2021, averaging an annual growth rate of 17.5% during 2017-2021, significantly higher than the annual average 3.9% growth over 2012-2016,” the Research report said.  The growth of bauxite production in ...

The Dollar Business Bureau The state government of Odisha, which is working on a new state export policy, has set a target of reaching Rs.1 lakh crore of exports by the year 2025. “Odisha has set a target of achieving an export turnover of Rs.1 lakh crore by 2025,” said L N Gupta, Additional Chief Secretary, Micro, Small and Medium Enterprises (MSME) Department on Thursday. The Government is working on a number of enabling factors that would be included into the new export policy in order to give a major boost to the State’s export turnover, he added. “A draft has been prepared for Odisha Export Policy, 2017, which lays emphasis on promoting the exports from traditional as well as non-traditional sectors,” Gupta said while addressing a seminar on export finance in Bhubaneswar. The Odisha Export Policy ...

The Dollar Business Bureau Nirmala Sitharaman met Takehiko Nakao, President, Asian Development Bank (ADB) and appreciated the Bank's efforts for infrastructure development in India. She said that the Government would help the States to have the infrastructure projects funding. The minister discussed the progress in the Vizag-Chennai Industrial Corridor (VCIC). She further mentioned that the Northern Extension of the ECEC from Vizag to Odisha and West Bengal is important and ADB should accelerate the work thereon. The Minister also mentioned that the Southern extension from Chennai to Kanyakumari should include extension up to The Minister also mentioned that the Southern extension from Chennai to Kanyakumari should include extension up to Kollachal Port and even at Vizhinjam, as this would accrue several economic benefits to these ...

The Dollar Business Bureau Positive to set a record this year to procure around 60 lakh metric tonne (MT) of paddy, the government of Odisha said on Tuesday that the exercise for Rabi crop would begin from May 1. P K Mohapatra, Secretary, Food Supplies and Consumer Welfare said that the Odisha State Civil Supplies Corporation Ltd (OSCSC) would be going for the 2nd phase of procurement of Rabi paddy from May 1 to June 30. The procurement of the paddy would be done from the farmers of 19 districts of the state, he added. “Odisha is going to procure record quantity of paddy this year. While total 42 lakh metric tonne (MT) paddy were collected during the Kharif season ...

The Dollar Business Bureau  In order to keep its commitment to speed up the implementation of new proposals for investment, Odisha’s Single Window Clearance Authority (SLSWCLA) cleared projects worth around Rs.3,000 crore, in many sectors including steel, petrochemicals, hospitality and food processing that would help in generating employment opportunities for around 22,000 people.  The SLSWCLA headed by the State’s Chief Secretary A P Padhi recommended a proposal by navratna PSU, NLC India Ltd, for setting up a power plant to the high-level clearance authority chaired by Chief Minister Naveen Patnaik. NLC has submitted an investment proposal of Rs.11,783 crore for establishing a power plant in the Jharsuguda district.  “Most of the projects were committed by companies in the recently concluded ‘Make in Odisha’ conclave while two ...

The Dollar Business Bureau  The ancillary industry of Jindal Steel and Power Limited (JSPL) plant at Angul in Odisha can create over 50,000 jobs, Jindal’s chairman Naveen Jindal said on Friday. Speaking at Make in Odisha Conclave on Friday, Jindal said, "JSPL has invested about Rs.35,000 crore in Odisha and has created employment for about 30,000 people. At Angul, it has already set up a 2 MTPA steel plant and more investments are in process to complete the 6 MTPA plant." "We are already making in Odisha. The Coal Gasification Technology adopted by JSPL can be used in making several products which will help in creating more downstream industries. More than 50,000 jobs can be created by developing Ancillary Industries of JSPL's plant at ...

The Dollar Business Bureau Under the aegis of Container Corporation of India Ltd (CONCOR), a multi-modal logistic park was set up at Jharsuguda which has been operational since June. The CBEC has decided to include Jharsuguda as an Inland Container Depot (ICD) in its latest notification No.139/2016-Customs (N.T.) dated 25th November, 2016. Jharsuguda is the second ICD in Odisha after Balasore. CONCOR Jharsuguda was operational as a Domestic Container Terminal for the first 3-4 months and later converted as an ICD. This terminal will provide dedicated service to the industry along with customs clearance and cargo consolidation facilities. In recent times Jharsuguda district has witnessed large scale industrialisation due to the ambitious plans of Chief Minister Naveen Patnaik. One such proposal was the setting up ...

PTI Union Petroleum Minister Dharmendra Pradhan today urged banks to scale up disbursement of small loans under MUDRA scheme to the poor, youth and women entrepreneurs in neglected areas of Odisha. While reviewing the progress of implementation of MUDRA scheme in the state, Pradhan lamented the dismal performance of public sector banks (PSBs), regional rural banks (RRBs) and private banks in disbursing small loans in comparison to micro-finance institutions (MFIs) and NBFCs. Pradhan also set a target for banks to raise the flow of credit to poor entrepreneurs from the present 35 per cent to at least 45 per cent in 2016-17. Small loans of up to Rs 2 lakh is being disbursed under MUDRA scheme. In 2015-16, MUDRA loan disbursement was Rs 5,436 crore against ...