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Infra For Corridor

While potential of Odisha Economic Corridor is high to attract investment, it requires huge funding for development of infrastructure for the massive project.

Consultants are busy in working out details of the infrastructure requirement of OEC, which is all set to entice Rs.1.6 Trillion in both the Nodes.

In order to develop infrastructure for the Odisha Economic Corridor (OEC), over Rs.12,000 Crore is needed for which the State Government will have to opt for funding from External Agencies.

Nodes like GKB consists of Ganjam, Khordha, Cuttack and Jajpur and PBBS consists of Jagatsinghpur, Kendrapada, Bhadrakh, and Balasore.

According to latest estimates, for both the Nodes of GKB and PBBS, Rs.12,777Crore is needed for development of infrastructure.

While the State Government will be investing its share of Rs.2063 Crore in form of land, it is expected similar amount of support will flow from Union Government, which has set National Industrial Corridor Development Implementation Trust (NICDIT).

NICDIT under Ministry of Commerce and Industry is promoting Economic Corridors in the States and facilitating Industrialization and investment.

NICDIT supports project development activities and appraisal, approval and sanction of projects.

It also coordinates and monitors all central efforts for the development of Industrial Corridor projects.

While Rs.4126 Crore will be available from both State and Centre, Rs.8651will be required from external agencies.

A number of external agencies have shown interest in the Project, however, the State Government will be examining the proposals as low cost borrowings for such huge projects is needed.

World Bank and ADB are providing cheap credit and Government of India will be looking for the opportunity to rope in such International Institutions for development of Corridors.

Major Infrastructure funding will be on roads asthe Spine that is National Highway-16 is needed to be connected with Industrial Clusters and Key Urban Centers.

Industrial Clusters in Ganjam, Khordha and Jajpur have been identified and combined all the Clusters area will be 5431 Acres of land.

These Industrial Clusters are needed to be connected and interconnected.

Similarly in Jagatisnghpur, Kendrapada, Bhadrakh and Balasore,over 10,000 Acres of Industrial Clusters are to be connected.

While road connectivity is needed railway connect to the Nodes is also required.

So details are being worked out as massive investment will be called for the OEC, officials say.
 
 
 


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