Invest Bhubaneswar conference ends with several investment plans in Odisha
Monday, December 20, 2010
Invest Bhubaneswar conference ends with several investment plans in Odisha

Report by Orissa Diary correspondent; Bhubaneswar: The 3-day Global Conference Invest Bhubaneswar has come to an end with an announcement of several business deals and tie-ups between Odia entrepreneurs and the global players.

Nulight Corporation Chairman, SS Lin from Taiwan has announced that his company will set up light emitting diode (LED) manufacturing unit in Odisha with an investment of US $ 200 million. The unit will manufacture the LED street lamps and household bulbs. “Odisha as well as India has a vast market for LED street lamps and household bulbs. It will be cost-effective and energy-efficient.” Mr. Lin told the reporters here on the final day of the global conference here.

Another senior functionary from Nulight Corporation said that his company is exploring the possibilities to invest and transfer technology to make Bhubaneswar a green city. “We are talking with Indian players to work together on this project.” he said.

Rushab Ship International has entered into talks with the Odisha government to introduce a passenger-cum-cargo cruise from Puri to Kolkatta in next three to six months with an investment of Rs 100 crore. Rashmikant Kamdar, president, Rushab Ship International announced at the conference, “We are having one or two vessels for this purpose. We are in talks with the state government and expect to finalise the deal soon.” The cruise can be used for multi purpose for ferrying passengers and cargo. There will be entertainment facility also for the passenger.

Kamdar also announced that his company is planning  to have ship breaking place in Odisha. Odia labourers are working as ship breakers in Alang in Gujarat. “They can be employed in the ship breaking place in Odisha”, he stated before the Odisha’s politicial leadership and policy makers.

CV Raman Group of institutions has entered into an agreement with the Best Western group to set up a hotel management college in Odisha. Best Western President and COO Sudhir Sinha announced that Bhubaneswar is going to be a major for the business activities in the near future. There is a huge shortage of trained staff for the hotel industry. This new institute will train professionals for the hotel industry.
Honourable Minister Debi Prasad Mishra also announced that a delegation of Odisha government along with the professionals of Invest Bhubaneswar will visit Silicon Valley in next May 2011. Similarly, the team will visit Dallas, Dubai, Sydney, Taipei, Israel and other parts of the world to attract investors. “More than 12 deals between Odia young entrepreneurs and global investors took place to set up new ventures in Odisha.  The investors are from Silicon Valley USA, Spain, Japan, Taiwan, Israel and UK”, he said

Co-convener Purna Mohanty told the reporters that Abzooba, a Silicon Valley company, would invest to set up a R&D entity at Bhubaneswar which will develop software in healthcare sector.  The software will help in making the health services cost-effective, which means the patient can avail the health services at a very low cost in Odisha as well as in India.

In education sector, another Silicon Valley backed company, EntranceForms.com, is working on developing a global platform for students to apply for the colleges online. They are currently conducting a Management Admission Camp (MAC) by connecting around 50 MBA colleges around India to come to Bhubaneswar to recruit students to their college at Hotel Swosti on January 23, 2011.

In the hospitality sector, another Indian venture 28 square feet, which aims at providing low cost hospitality services with comfort and quality below Rs 500 with air-conditioned stay is planning to set up their hotel unit at Bhubaneswar.

Invest Bhubaneswar convener Dr. Dhanada Kanta Mishra said that this is a process to attract investors and develop entrepreneurial culture in Odisha. The synergy is already building up through the Invest Bhubaneswar platform connecting the Odisha businesses internationally around the globe.

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