Aditya Birla Group to pump Rs.75,000-80,000 crore in Orissa projects

• IBTimes RSS
• Print
• E-Mail
• digg
• Del.icio.us

According to Group chairman Kumar Mangalam Birla, who met Orissa's Chief Minister Naveen Patnaik to discuss and explore business opportunites in the state, Orissa is a "very important business destination" for the Group and they are "committed to larger and more investments."

Birla shared with Patnaik in details about the projects that were lined up the state, including the launch of the Group's retail business within the next 6 months.

Besides, an alumina refinery at Kashipur and a smelter plant at Sambalpur, the group is also planning to set up two cement plants in the state, Birla said.

The Group is also committed to espousing social causes and besides taking up rural development and community initiatives, will be setting up healthcare centers and schools in the vicinity of the project sites, Birla said.

Birla, however, added that some of the projects were facing hurdles, without specifying them. "We have some issues, which need to be looked into. The Chief Minister has been informed of the problems we are facing and he has assured us of looking into it," Birla said.

A source said that a major cause of concern to Birla was the protest cries raised by the people who were displaced by Group company Utkal Alumina International Ltd's alumina refinery project at Kashipur in Rayagada district.

Though Aditya Birla Group has compensated the affected villagers and a rehabilitation and resettlement program is in place, yet, the locals are demanding a fresh rehabilitation package, the source said.

Besides Birla, Korea-based Posco Steel Co. also has plans of investing $12 billion in an integrated steel project in Paradip, Orissa.

Mittal Steel, part of the world's largest steel maker Arcelor Mittal, is also keen on investing $10 billion in Orissa and plans to set up a 10 million tonne capacity steel plant in the state.

• 1
• 2