Wednesday, July 26, 2006

It is raining investments in Orissa ( India)

The monsoon might be eluding Orissa, but the state of Orissa is witnessing a different kind of showers — of investment promises.

With world players like Mittal Steel and Posco and Indian behemoths like Anil Dhirubhai Ambani Group and Tata Steel in its list of investors, Orissa, as of now, seems to be placed comfortably among other states in the race to woo investments.

Orissa is rich in history, rich in minerals, and attracts tourists from all over the world. Unlike many of its richer neighboring states, Orissa's electricity sector receives no subsidy from the government.

As a matter of fact, it generates surplus power and sells to its neighboring states. Orissa has 13 steel plants which are producing steel already and several MoUs have been signed for many more. In IT sector, Orissa is currently 9th in the country and it is on its way to becoming the 4th. The four Indian IT giants like Infosys, Satyam, Wipro and TCS have their presence in the captial city of Bhubaneswar.Bhubaneswar is the 5th fastest growing city in India (as per India Today survey) .Vedanta Resource Plc will set up a Vedanta University between Konarka and Puri.

The Airports Authority of India (AAI) announced plans to upgrade the Biju Patnaik Airport at Bhubaneswar to international standards by investing Rs 250 crore.


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