Orissa lines up Rs 92,035 cr investment in Q4FY08

New Delhi, Jun 5 (UNI) Outpacing other states in attracting funds, Orissa has lined up investment plans worth about Rs 92,035 crore during Jan-Mar this year, with Rs 45,000 crore flowing to steel sector alone.

''Orissa has emerged as a preferred destination for the players in steel producers. They intend to invest as much as Rs 45,000 crore to install steel plants with aggregate capacity of 18.5 million tonne,'' according to the Assocham Investment Meter (AIM) on 'Statewise Investments'.

Major players who have lined up capex announcements in the state include Vedanta Resources, Tata Steel, Mesco Steel and Bhushan Steel.

''The mineral rich states are attracting huge investments in sectors such as steel, oil and gas and power,'' said Assocham President Sajjan Jindal.

Orissa topped the chart claiming almost 30 per cent of the total investments announced during the last quarter of 2007-08 totalling to Rs 3,25,285 crore.

Steel players have lined up almost Rs 11,900 crore for setting up of steel plants in the state, Mr Jindal said.

Other major sectors were Ports and Shipping (Rs 2,000 crore) and Power (Rs 1,010 crore). Apart from the Rs 1,010 crore in power projects, corporates also intend to invest in captive power projects in West Bengal, he added.

West Bengal and Andhra Pradesh followed with the capex announcements of nearly Rs 67,361 crore and Rs 58,226 crore.

Assam is the only north-eastern state to have any prominent investment announced over Jan-March 2008.

The study said the power sector is expected to receive capital outlay of about Rs 4,375 crore, with the power major NTPC was the key investor disclosing its plans to invest in the state.

Other prominent sectors attracting investors' interest in the state include the power sector and the oil&gas sector.

The industry pronounced to deploy about Rs 7,875 crore in power sector and Rs 4,560 crore in Oil and Gas. Gujarat Mineral Development Cooperation (power) and Reliance Industries (Oil and Gas) were the big-ticket investors.

The sectors that drew maximum capex announcements were Metals and Oil&Gas. A sum of Rs 20,000 crore is planned to be spent in each of the sectors by the Vedanta Group and Cals Refineries.

Chhattisgarh was host to outlay plans of about Rs 34,587 crore, as per the capex announcements made during the time period of Jan-Mar 2008.

Most of the capital spending was proclaimed in the sectors of power and steel. The planned investment in these sectors was Rs 17,375 crore and Rs 16,000 crore.

Tata Steel and Gujarat Mineral Development Cooperation were among the major investors planning to deploy funds in the steel and power sectors of Chhatisgarh.

About Rs 1,200 crore would flow into Real Estate for building up of townships.

The corporate sector plans to spend about Rs 14,650 crore in Punjab. As per the corporate announcements made over the last quarter of the financial year 2008, about Rs 14,000 crore may be incurred in setting up of thermal power projects across the state. GVK Power&Infrastructure was the main investor with about Rs 650 crore was committed to the textile sector.

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