Odisha Approves Rs 1.36 Lakh Crore Investment Projects

On Thursday, the Odisha government approved 20 major investment projects worth Rs 1.36 lakh crore across nine sectors, signaling a strong commitment to economic growth. These projects are expected to generate over 74,350 jobs, contributing to the state’s industrial and infrastructural development.

The High-Level Clearance Authority (HLCA), led by Chief Minister Mohan Charan Majhi, has endorsed the proposals, which will be set up in 10 districts, spanning steel, chemicals, aluminium, green energy, aviation fuel, apparel, power, and cement. This approval follows Odisha’s ongoing success in attracting large investments, positioning it as a key hub for industrial growth.

Key Highlights of Approved Projects

Sector-wise Investment: The investments will span across steel, chemicals, aluminium, green energy, aviation fuel, power, apparel, textiles, and cement.

Job Creation: The approved projects are expected to generate over 74,350 jobs, contributing significantly to local economies.

Strategic Locations: The projects will be implemented in 10 districts, including Jajpur, Jharsuguda, Khurda, and Sambalpur.

Notable Project Approvals

Neelachal Ispat Nigam Ltd (Tata Steel): The expansion of the integrated steel plant in Jajpur, from 0.98 MTPA to 9.50 MTPA, with an investment of Rs 61,769 crore.

Hindalco Industries Ltd: Expansion of smelter capacity in Sambalpur, from 0.38 MTPA to 0.68 MTPA, at an investment of Rs 10,645 crore.

Bharat Coal Gasification and Chemicals Ltd: Investment of Rs 11,782 crore to set up a manufacturing unit in Jharsuguda.

Strong Investment Trends in Odisha

Over the past six months, Odisha has attracted more than Rs 1.80 lakh crore in investments through 73 industrial projects, generating over 1.1 lakh jobs. This momentum highlights Odisha’s growing reputation as an attractive destination for investment, aided by a business-friendly environment fostered through cooperation between the state and central governments.

Summery of the news