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Odisha lures AP bizmen, holds investors meet

Odisha lures AP bizmen, holds investors meet
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Highlights

A two-member team consisting of Sanjeev Chopra, Principal Secretary, Industries Department and Sanjay Singh, CMD, Odisha Industrial Infrastructure Development Corporation (IDCO) organised a two-day Investors’ meet in the city to invite the entrepreneurs to set up their units.

Visakhapatnam: A two-member team consisting of Sanjeev Chopra, Principal Secretary, Industries Department and Sanjay Singh, CMD, Odisha Industrial Infrastructure Development Corporation (IDCO) organised a two-day Investors’ meet in the city to invite the entrepreneurs to set up their units.

Highlights:

  • The state has been focusing on downstream industries for value addition and sector specific parks to develop in many areas in the State
  • 50 investors participated in the two-day meeting

A small group of 50 investors participated in the two-day meeting.Briefing media on concluding day, Sanjeev Chopra said the response has been good and Odisha’s State-level single window clearance authority recently approved a proposal from Visakhapatnam-based Coastal Corporation Limited to set up their operations at Seafood Park in Deras with an investment of Rs 51 crore that would generate 300 jobs.

The first of its kind seafood park project generated strong interest among several sea food processing companies in Vizag during the meeting, Chopra said.

In addition, Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) and Visakhapatnam Chamber of Commerce and Industries have proposed to send a delegation to visit Odisha and explore investment opportunities in the State.

“We have advantage of two deep sea ports Paradeep and Dhamra which will have a cargo turnover of 320 million tonnes. If one is investing in the Eastern India, Odisha will be the best place,’’ Chopra said.

Asked how attractive the incentives would be than Andhra Pradesh and other states, Chopra said Odisha has been giving top priority for generation of employment and based on the jobs, incentives would be given for a long term. The state has been focusing on downstream industries for value addition and sector specific parks were being developed in many areas of the State.

For Vizagites, the area between Bhubaneswar and Berhampur would be ideal since the people have common culture and traditional practices. He said the ‘Make in Odisha’ and Investors meet in Mumbai and Bengaluru in 2016, has been a success and received firm investment commitments for 74 projects worth more than Rs 2 lakh crore. Currently, the State government is focusing on rapid implementation of these projects.

Sanjay Singh, CMD, Odisha Industrial Infrastructure Development Corporation (IDCO), said mega projects in Odisha like Plastics Park at Paradip, Sea Food Park at Deras, Electronics Manufacturing Cluster at Infovalley and Aluminium Park at Angul are now ready for investments. However, the local investors were not so keen on investing in Odisha ``We still have faith in our government and opportunities are plenty to explore for investment,’’ said a businessman requesting anonymity.

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