Odisha approves ₹44,793 crore investments across five industrial projects, creating 23,005 jobs and boosting its industrial economy.
Bhubaneswar, Odisha : In a significant development to accelerate Odisha’s industrial growth, the 38th High-Level Clearance Authority (HLCA) meeting, chaired by Chief Minister Shri Mohan Charan Majhi, approved investment proposals worth ₹44,793.03 crore. These investments span diverse sectors, including refineries and petrochemicals, green energy equipment, steel and chemicals, and biotechnology, and are set to generate 23,005 employment opportunities.
The Chief Minister emphasized the state's commitment to industrial growth, stating, "Odisha’s industrialization is progressing rapidly, reflecting our vision for economic and social development. We aim to transform Odisha into a top industrial hub."
Major Investments Across Key Districts
The projects are strategically distributed across three districts:
1. Jajpur:
Indian Strategic Petroleum Limited will establish a crude oil storage facility with a capacity of 4 million metric tons.
This project aligns with India’s energy security goals, further strengthening Odisha’s position in the energy sector.
2. Cuttack:
Acme Cleantech Solutions will invest ₹4,050 crore to set up a protein manufacturing plant.
This facility is poised to bolster the state's biotechnology and food processing sectors.
3. Dhenkanal:
INX Solar plans to invest ₹4,000 crore to establish a solar module and photovoltaic cell manufacturing unit, marking a significant step towards green energy development.
Driving Odisha’s Economic Aspirations
These investments are part of the state’s ambitious Vision Odisha 2025, which was promoted during roadshows in Delhi, Mumbai, and Singapore. The roadshows successfully attracted multinational and international investors, positioning Odisha as a favored destination for industrial growth.
According to officials, these projects are expected to enhance the state’s industrial infrastructure and foster inclusive development. The proposed investments cover cutting-edge technologies, green energy solutions, and sustainable industries, contributing to Odisha’s long-term economic goals.
Government's Strategic Vision
The HLCA meeting also included participation from key ministers and senior officials, such as Industries Minister Shri Pratap Keshari Deb and Forest and Environment Minister Shri Ganesh Ram Singh Khuntia. The discussions underscored Odisha's proactive approach to ensuring smooth facilitation of investments.
The Chief Minister reiterated that the government's focus on infrastructure development and investor-friendly policies will catalyze economic growth. The projects are expected to position Odisha as a competitive player in national and global markets.
This wave of investments signals a dynamic shift in Odisha’s industrial ecosystem, aligning with the state’s vision of becoming a leading industrial and economic powerhouse by 2025.
Key Highlights:
- ₹44,793.03 crore investment approved.
- 23,005 jobs to be created.
- Five projects in Jajpur, Cuttack, and Dhenkanal districts.
- Focus on green energy, biotechnology, and petrochemicals.
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