1 day Ago By Hemant Kumar Rout
BHUBANESWAR: Odisha on Tuesday presented an impressive business pitch to Indian and global investors attracting over Rs 4.5 lakh crore investment intents on the Day-1 of Utkarsh Odisha: Make-in-Odisha Conclave 2025. Chief Minister Mohan Majhi said Odisha is poised to become a major industrial hub of the country as it has received investment proposals three times more than its initial expectations.
“It has been possible after Prime Minister Narendra Modi encouraged investors to capitalise on Odisha’s potential. The state had initially anticipated investments worth Rs 5 lakh crore, but the proposals received so far will exceed the target and the investment intents would be three-fold,” he said. Positioned as a gateway to Southeast Asia, Odisha is leveraging its historical trade ties with ASEAN countries to strengthen investments in manufacturing, technology, and blue economy.
With the National Green Hydrogen and Solar Power Missions taking centre stage, Odisha is set to become a hub for renewable energy innovations, he said. Additional chief secretary of Industries department Hemant Sharma said 54 MoUs have been signed for a collective investment of around Rs 4.5 lakh crore on the first day.
The number of MoUs and investment intents may go up to 80, he said. “Adani Group has announced to invest Rs 2.3 lakh crore, which is the highest investment proposal received by the state so far.
JSW will also set up a 5 MTPA steel plant in Keonjhar district with an investment of around Rs 35,000 crore. An MoU has been signed in this regard,” he said. Similarly, Vedanta Group has signed an MoU to invest Rs 1 lakh crore to set up a 6 MTPA aluminium refinery and 3 MTPA smelter plant along with an aluminium park in Rayagada district.
Jindal Steel and Power (JSP) will invest Rs 70,000 crore for the expansion of Angul steel plant. Tata Steel has committed Rs 80,000 crore, while new petrochemical, IT, renewable energy, and semiconductor industries are expected to take shape in Paradip and Gopalpur. While Avaada Group unveiled its plans to invest Rs 20,000 crore at Gopalpur, Birla Group has confirmed plans for a copper foil plant in the state, Sharma informed.
Day 1 of the conclave, Odisha’s flagship investment summit organised in collaboration with CII witnessed the presence of 30 industry captains, 28,000 individual registrations, over 200 exhibitors and participants from 18 countries at four plenary sessions and six sectorial sessions, including a CEO round-table..
