Odisha Govt Approves Rs 44,793 Crore Investments Across Five Sectors

Bhubaneswar: The Odisha government has approved investment proposals worth Rs 44,793 crore across five sectors, which will generate employment opportunities for over 23,000 people, as per an official statement. The approval was given at the High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi on Monday. The projects which got a green signal from the government are in sectors such as refinery and petrochemicals, green energy equipment, biotechnology, steel and chemicals. 

"These investments are set to generate employment opportunities for over 23,005 individuals, reinforcing Odisha’s industrial and economic foundation," the statement said. 

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Odisha Investment Approval

The approval of these big projects before Utkarsh Odisha 2025 is a "clear sign of the state’s growing industrial strength," the chief minister said. "These investments will create thousands of jobs and directly benefit the people of Odisha. Our focus is to ensure that Odisha remains a top investment destination, driving progress and prosperity for our people,” Majhi said. The success of numerous road shows organised by the state in cities like Delhi, Mumbai, and Singapore has resulted in significant interest, with several companies now looking to invest in Odisha, the statement said on Monday. "The approved projects include an Rs 8,743 crore investment by Indian Strategic Petroleum Reserves Ltd to set up a 4 MMT crude oil storage facility in Jajpur, and this project is expected to generate 5,130 jobs," an official said.

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Inox Solar Ltd will invest Rs 4,000 crore in Dhenkanal to establish a solar module and photovoltaic cell manufacturing unit, which will create 3,400 jobs, he said. ACME Cleantech Solutions Pvt Ltd also got approval to invest Rs 4,050.03 crore in Cuttack for a manufacturing plant focused on mushroom root fermentative protein, and this would provide 3,475 employment opportunities. Tata Steel Ltd will expand its operations with a Rs 26,175 crore investment in a 2.2 MTPA cold rolled and coated steel products facility and a 2 MTPA plate mill in Jajpur, and these will create 8,000 jobs, the official said.

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Himadri Green Technologies Innovation will invest Rs 1,825 crore in Cuttack to establish a facility for mineral oil and tyre recycling products, which would provide employment to 3,000 people. The approved projects are spread across Jajpur, Dhenkanal and Cuttack and will strengthen Odisha's industrial base. With these projects, Odisha is entering a new phase of industrial growth and establishing itself as a major player in India’s economic development, Majhi added.