Investors from Andhra Pradesh have evinced keen interest in the Odisha Government’s favourable industrial policy.
This was evident at a two-day Investors’ Meet, organized by the Department of Industries of Government of Odisha in Visakhapatnam, where more than 50 industrialists, investors and industry confederations from Andhra Pradesh explored investment opportunities in Odisha. Odisha’s State level Single Window Clearance Authority has recently approved a proposal from Visakhapatnam based Coastal Corporation limited to set up their operations at Seafood Park in Deras.
The company will invest around Rs 51 crore and will generate 300 jobs. The first of its kind seafood park project generated strong interest among several sea food processing companies in Vizag during the Investors Meet.
Additionally, Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) and Vizagapatnam Chamber of Commerce and Industries have proposed to send a delegation to visit Odisha and explore investment opportunities in the State. Speaking on the sidelines of the Investors’ Meet in Visakhapatnam, Principal Secretary, Industries, Sanjeev Chopra said, “We are pleased to receive such warm welcome from the vibrant business community of Andhra Pradesh.”
Odisha’s business friendly policies and the development of world-class infrastructure have received very positive feedback from investors across the country as the State has been able to create an ideal business ecosystem for various sectors to flourish in the State.
Over the last 3 years, the State Government has embarked upon the implementation of a Business Reforms Programme to make it easier for companies to set up and operate in the State following which Odisha has been recognized as a ‘leader’ in terms of implementation of business reforms with 92.73 pc score in the Ease of Doing Business Report of 2016. Odisha Industrial Infrastructure Development Corporation (IDCO) CMD Sanjay Kumar Singh said, “The State Government is highly optimistic over the new world-class industrial infrastructure facilities that have been set up across the State in the form of four investment regions and various sector-specific industrial clusters.”
Master planning of National Investment and Manufacturing Zone, Kalinganagar, Dhamra Port-based industrial region and Infovalley have been completed, while the planning for Petroleum Chemicals and Petrochemicals Investment Region at Paradip is underway and will be completed in the next 3-4 months.
Meanwhile, other 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.