Bhubaneswar: Odisha, known for its unwavering commitment to industrial development, marked another significant milestone during the 32nd High-Level Clearance Authority (HLCA) meeting held on September 11. The recently published report by the Reserve Bank of India, placed Odisha 3rd in the list of states attracting the highest bank-assisted investments behind Uttar Pradesh and Gujarat and above industrial states like Maharashtra and Tamil Nadu.
To further strengthen its position as the major Industrial Hub in Eastern India and the fulcrum of trade and commerce in the Bay of Bengal region, the state government under the visionary leadership of Chief Minister Naveen Patnaik, approved 9 key industrial projects with a cumulative investment of Rs. 1,01,804.43 crores. These projects are poised to create employment opportunities for 28,565 people across various sectors.
The diverse spectrum of projects underscores Odisha’s dedication to realising investment intentions and transforming them into tangible economic benefits. These projects will be strategically located across the state, including Jagatsinghpur, Jajpur, Jharsuguda, Khordha, Paradeep, Bhadrak, Ganjam, and Koraput districts.
In the Steel sector, the HLCA approved the expansion proposal of JSW Utkal Steel Limited to enhance its planned Integrated Steel Plant capacity from 12 MTPA to 24 MTPA. With an investment of INR 75,000 Crores, this initiative is expected to generate employment for 12,000 individuals.
Additionally, Jindal Ferrous Limited received the green light for its project to establish a 2.35 MTPA Carbon steel plant in Kalinga Nagar, Jajpur, with an investment of INR 3,449 Crores and an employment potential of 1,396 people. MSP Metallics Limited is set to expand its unit by setting up a 1.39 MTPA steel plant, 251 MW CPP, and Railway Siding in Marakuta, Jharsuguda, with an investment of INR 1,500 Crores, generating employment for 4,000 individuals.
In the Green Energy Equipment & ESDM sector, Avaada Electro Private Limited’s project to establish a manufacturing facility for ingots, wafers, solar cells, and modules in Haldiapada, Khordha received HLCA’s approval. This transformative project, valued at INR 11,300 Crores, is expected to create employment opportunities for 4,000 individuals.
In the Green Hydrogen and Green Ammonia sector, L&T Energy Green Tech Limited secured HLCA’s approval for its Green Ammonia Plant with an annual capacity of 320,000 MT in Paradeep, Jagatsinghpur, with an investment of INR 1,030 Crores, generating employment for 1,310 people.
The Chemical sector welcomes Berger Paints India Limited’s initiative to establish a manufacturing unit for Intermediates, Paints and allied products with an annual capacity of 4,10,000 KL/MT in Khordha. This project, with an investment of INR 1,458.25 Crores, is projected to provide employment to 350 individuals.
The Textile and Apparel sector witnesses a significant boost with the approval of Indian Oil Corporation Limited’s project to establish a Polyester products manufacturing unit in Textile Park, Bhandaripokhari, Bhadrak, with an investment of INR 4,377.46 Crores and an employment potential of 4,300 individuals.
In the Oil and Gas sector, Petronet LNG Limited’s LNG Terminal with a capacity of 40,00,000 MT in Gopalpur, Ganjam, received HLCA’s endorsement. With an investment of INR 2,306 Crores, this project is expected to create employment opportunities for 660 individuals.
The Cement sector welcomes Toshali Cement Pvt. Ltd’s expansion proposal is to increase the clinker capacity to 1.75 MTPA and Cement grinding capacity to 1.40 MTPA in Ampavalli, Koraput. With an investment of INR 1,383.72 Crores, this initiative is projected to provide employment to 549 individuals.
Odisha Government has always encouraged and welcomed industrialists to invest in the state. As these projects gather momentum, Odisha’s economic landscape is set for unparalleled growth, making it the preferred destination for investments and industrial expansion in Eastern India, according to an official release issued by the Chief Minister’s Office.