Odisha Gets Rs 84,918.75 Crore Investment for Key Industrial Projects

Chief Minister Naveen Patnaik

In a major stride towards industrial development, the state of Odisha has achieved a significant milestone with the approval of twelve crucial industrial projects during the 33rd High-Level Clearance Authority (HLCA) meeting. Under the leadership of Chief Minister Naveen Patnaik, the Odisha government has given the green light to projects with a cumulative investment of INR 84,918.75 crore, with the aim of creating employment opportunities for 42,281 people across various sectors.

These approved projects span across critical sectors including Apparel & Textiles, Green Hydrogen and Green Ammonia, Steel, Power & Renewable Energy, and Chemical & Petrochemical downstream industries. The strategic distribution of these investments covers multiple districts within the state, including Cuttack, Dhenkanal, Ganjam, Jajpur, Jharsuguda, Kendrapara, Malkangiri, Rayagada, Sambalpur, and Sundargarh.

One of the notable entrants into Odisha is the Welspun Group, which is making substantial investments in the Apparel & Textiles and Steel downstream sectors. Welspun Living has secured approval for an integrated Textile and Logistics Facility in Choudwar, Cuttack, with an investment of INR 3,050 crore, potentially employing 20,210 people. Additionally, Welspun Corp is set to invest INR 3,137 crore in the Steel downstream sector, generating jobs for 3,830 individuals in Sambalpur.

Welspun New Energy is also making significant strides in the Green Hydrogen and Green Ammonia sector, with a massive INR 13,860 crore investment in a manufacturing unit in Kendrapara, which will provide employment for 1,000 individuals.

Furthermore, the Green Hydrogen and Green Ammonia sector has witnessed substantial investments from Sembcorp Green Hydrogen India and ReNew E-Fuels (REFPL). Sembcorp is set to invest INR 13,000 crore in Gopalpur, Ganjam, creating employment for 1,250 individuals, while REFPL has secured approvals for investments in Malkangiri and Rayagada, generating jobs for 2,400 people.

In the Steel sector, Tata Steel’s expansion project in Dhenkanal, valued at INR 10,351.11 crore, has received approval and is expected to create employment opportunities for 3,725 individuals. Orissa Metallurgical Industry has also received approval for a significant investment of INR 5,200 crore in Jharsuguda, potentially employing 6,000 people. BMW Industries, too, secured HLCA approval for an investment of INR 1,094.82 crore in the Steel (Downstream) sector, setting up a production plant in Kalinganagar, Jajpur, and providing employment for 1,950 people.

In the Power & Renewable Energy sector, NTPC and Ind Barath Energy Utkal have received approvals for investments in Sundergarh and Jharsuguda, respectively, with projected employment opportunities for 1366 and 450 individuals.

The Chemical & Petrochemical downstream sector has received a boost with the approval of Aegis Vopak’s project in Gopalpur, Ganjam, involving an investment of INR 1,000 crore and an employment potential of 100 individuals.

As these projects gain momentum, Odisha is poised for unparalleled economic growth, solidifying its position as the preferred destination for investments and industrial expansion in Eastern India. The approved projects are expected to contribute significantly to Odisha’s industrial development and employment generation, cementing its status as a thriving industrial hub in the region.

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