Union Government approves third NIMZ of India in Odisha
Posted on: 27 May 2016 17:17:20
27 May 2016 Current Affairs: The Union Government has approved establishment of a National Investment and Manufacturing Zone (NIMZ) in Odisha on 26 May 2016. This is the third NIMZ of India involving a massive area of 163 square kilometers. The project will come up at Kalinganagar industrial area in Jajpur district of Odisha.
For execution of the project, the Union Ministry of Commerce and Industry has approved the 4241 crore rupees. Of this fund, estimated 3816 crore rupees will be invested for the first phase of the project which will be completed by 2020.
Key facts of the project : It will create job opportunities for around 1.5 lakh people. It will help Odisha grow as a manufacturing hub and help Paradip port's growth.National Investment and Manufacturing Zones (NIMZs)
In order to boost manufacturing sector, the Union Government in 2014 announced setting up of sixteen national investment and manufacturing zones (NIMZs) under National Manufacturing Policy (NMP).
The NMP aims to enhance the share of manufacturing in GDP to 25 per cent and creating 100 million jobs over a decade.
Till 2013-14, 16 NIMZs have been set up. Of these, eight are along the Delhi Mumbai Industrial Corridor (DMIC). These are:
1.Ahmedabad-Dholera Investment Region, Gujarat
2.Shendra-Bidkin Industrial Part city near Aurangabad, Maharashtra
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