Videocon Industries Limited unveiled INR 15,000 crore investment plan for Orissa, with proposals to set up a port, a 1,000 MW thermal power plant and an information technology and logistics park, including a mobile manufacturing unit.

Mr Anirudh Dhoot director said that “We have picked up Orissa as an investment destination because of its proactive industrial policy, competitive advantage and good regional connectivity. The plant would run on imported coal from Indonesia, where we have our mines.”

The power plant would involve an expenditure of about INR 6,000 crore and would come up in about 800 acres of land.

Saying the state government had assured land and water for the power plant, Mr Dhoot said the exact site and the source of water would be known only after a through techno-feasibility study.

The company board had recently approved a proposal for setting up a port in the state. However, the exact location of the project has not yet been decided.

Mr Dhoot said that “The state government will soon come out with some new sites for port development. After that, we will apply to the government for the allocation of a site for port development in a public private participation mode or a joint venture.”

The company has appointed consultants Infrastructure Leasing & Financial Services Limited and Ernst & Young to carry out an extensive study on the location of the port and to provide advisory services for the project. The company also plans to set up an IT and logistics park close to Bhubaneswar.

(Sourced from BS)