Australia to invest in mining sector in Orissa

Australia has evinced keen interest to invest around Rs9,000 crore in the mining sector in Orissa and set up mineral-based units in the state.

"We have proposal for investment of two billion dollars in the mining sector in Orissa which is endowed with rich natural resources," Australian High Commissioner to India Peter Varghese said here today.

Varghese, on a two-day visit to Orissa, said at least 85% of mineral requirements in Australia are met through exports from India.

The Australian envoy, who met Chief Minister Naveen Patnaik and visited an educational institute near Bhubaneshwar on Saturday, said natural resources including Alunimium, gold and coal are plentily available in Orissa.

The Australian government would like to set up industries in these sectors in joint-venture so both the countries could reap the benefits.

On his meeting with the chief minister, Varghese said he held discussion on mining scenario and possible projects in Orissa. Officials of Orissa Mining Corporation (OMC) were also present during the meeting.

Joint ventures in the state would help uplift the tribals, create employment opportunities and give phillip to economic development.

During his visit to the city campus of Centurion University of Technology and Management, Varghese stressed on meaningful collaborations with Australian educational institutions.