India's Odisha state approves corporate investments worth $475 million
India's Odisha state approves corporate investments worth $475 million BENGALURU, July 21 (Reuters) - India's Odisha state on Tuesday approved 23 industrial projects worth 45.74 billion rupees ($475.29 million) in investment by companies across sectors including information technology, textiles, pharmaceuticals and chemicals.
The projects will be established across 11 districts by companies, including HCLTech HCLT.NS and Tata Steel TISC.NS, it added.
Here are some key details:
HCLTech will invest 7.30 billion rupees for a global development centre offering IT services, which is expected to generate 6,000 jobs.
Tata Steel will invest 1.65 billion rupees in a railway siding for a dedicated rail freight facility, with the project expected to create 250 jobs.
ACME Cleantech Solutions will establish a 7.78-billion-rupee alkaline electrolyser manufacturing unit with a production capacity of up to 3 gigawatts (GW) per annum.
The 23 projects are expected to create 22,873 jobs, the state government added.
($1 = 96.2350 Indian rupees)
(Reporting by Nishit Navin; Editing by Leroy Leo)
((Nishit.Navin@thomsonreuters.com;))
Recent news on SPL Industries
See all newsIndia's Odisha state approves corporate investments worth $475 million
Brief: SPL Industries To Invest 500 Million Rupees To Set Up Ready-Made Garment Unit In India's Odisha State - Government Statement
Brief: SPL Industries Reappoints Mukesh Kumar Aggarwal As Managing Director For A Further Term Of 5 Years
Brief: Spl Industries Says Mukesh Kumar Aggarwal Ceases As Managing Director
Brief: Spl Industries Names Komal Adlakha As Chief Financial Officer