Tata Power Investment: Electricity distribution company Tata Power has announced an investment of Rs 6,000 crore in Odisha. Tata Power Discom will invest in ensuring reliable and quality power supply to industries in Odisha. Let us know about it in detail.

The company's Chief Executive Officer (CEO) and Managing Director Praveer Sinha, while addressing the Make in Odisha conference on Thursday, said that four electricity distribution companies (discoms) with a majority stake in Tata Power are established in Odisha. The company is planning to invest Rs 6,000 crore in these in the next five years.

CEO Sinha said that the company will also set up 1,000 electric vehicles (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop solar projects, and reservoir solar plants in the next five years. He welcomed the Renewable Energy Policy-2022 of the Government of Odisha presented during the conference.

Along with this, he said that the company is engaged in power distribution works across Odisha and is committed to ensuring ease of doing business through the quality power supply.

With this, Tata Power Odisha discoms will soon be in a position to provide new industrial power connections within a week to 10 days depending on the availability of the network.

Essar Capital will invest 52,000 croresOn the other hand, Essar Capital also announced on Thursday to set up several projects in Odisha with an investment of about Rs 52,000 crore. Announcing this investment plan during the 'Make in Odisha Conference 2022' here, company director Prashant Ruia said that a pellet complex would be set up in Odisha with an investment of Rs 12,000 crore.

Tata Steel also showed interest

Along with this, he said that apart from this, the company has plans to set up a petrochemical business in Odisha with an investment of Rs 40,000 crore. This complex will be set up in collaboration with an international company.

Steel sector company Tata Steel also showed interest to invest in Odisha. Company's Managing Director and Chief Executive Officer TV Narendran said that the Tata Group company, which has so far invested Rs 75,000 crore in Odisha, will continue to invest here.

CM laid the foundation stone of the stainless steel park

Narendran said that in the last few years, apart from setting up its plant at Kalinganagar in Odisha, Tata Steel has also acquired units like Nilanchal Steel Plant.

Meanwhile, Odisha Chief Minister Naveen Patnaik laid the foundation stone of the stainless steel park proposed with an investment of Rs 1,500 crore. This country's first stainless steel park is being constructed by Jindal Stainless Steel (JSL). It will be developed in two phases within six years.