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| State team to visit Taiwan next week to seek investment |
| BS Reporter / Kolkata/ Bhubaneswar Feb 06, 2012, 00:59 IST |
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A five-member delegation of the Orissa government led by Chief Secretary B K Patnaik is scheduled to visit Taiwan during February 12-18 to lure investors in sectors like electronics, IT hardware and automobile components manufacturing.
T Ramachandru, principal secretary (industries), C J Venugopal, chairman and managing director, Industrial Promotion and Investment Corporation Ltd (Ipicol), P K Jena, secretary (IT) and B N Palai, general manager of Ipicol will be accompanying the Chief Secretary in his visit.
"Our focus in on diversifying the state's investment basket and attract investors in non-metallurgical sectors. The Taiwan visit is aimed at bringing investments in areas like electronics, IT hardware and auto components manufacturing. The delegation will hold discussions with top officials of Taiwan and also with the country's industrial groups”, said an official source familiar with the development.
Orissa which has attracted investments worth over Rs nine lakh crore across sectors, mostly from mineral-based industries is open to incorporate fresh incentives in its existing Industrial Policy Resolution (IPR) to pull investors in non-metallurgical sectors.
With bulk of the investments proposed in the area of core manufacturing industries like steel and aluminium, the state is looking to diversify its basket by roping in investors from sectors like food processing and IT hardware.
A dedicated policy for the auto component manufacturing sector is also on the anvil.
Spurred by the buoyancy in the auto sector, in the country, investment in the ancillary sector is expanding rapidly and the state government is keen on tapping this potential.
RSB Transmission had entered into an MoU (Memorandum of Understanding) with the state government for setting up an auto component manufacturing plant at Choudwar near Cuttack at an estimated cost of around Rs 400 crore.
The state offers good resources to support automobile component manufacturing units like availability of quality pig iron, pure aluminium ingot, steel flat products and steel rounds.
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