The Odisha government on Wednesday gave the green light to 20 mega investment proposals worth Rs 76,612 crore, which are projected to create employment opportunities for over 50,000 people across the state.
The project proposals received clearance during a High Level Clearance Authority (HLCA) meeting, which was presided over by Chief Minister Mohan Charan Majhi.
“With progressive policies, robust infrastructure, and a strong commitment to ease of doing business, Odisha continues to attract investments across both emerging and core sectors. These projects will contribute significantly to employment generation, industrial diversification, and inclusive economic growth,” the CM said.
According to an official, the projects span a wide array of key industries, including gemstone manufacturing, green energy equipment, aerospace and defence, value-added rare earth mineral products, pharmaceuticals, mechanical and electrical capital goods, chemicals, steel, iron and ferro alloys, alongside power and renewable energy.
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In the gemstone manufacturing space, Kira Diam LLP, Anjali Labtech Limited, and Grow Magnificent Private Limited have pitched the setup of lab-grown diamond manufacturing facilities in Khordha. Boasting a combined investment of Rs 9,817.50 crore, these units are expected to generate 8,100 jobs and reinforce Odisha’s standing in the sector, officials said.
For the green energy equipment sector, Tata Power Renewable Energy Limited is set to build an ingot, wafer, and Solar PV Cell manufacturing facility in Ganjam district with a massive Rs 10,000 crore investment. In the same district, Saatvik Solar Industries Private Limited has proposed a Rs 1,709.81 crore investment for a Solar PV Cells manufacturing plant.
Furthering high-tech manufacturing, N.A.N. Magnetech Private Limited will invest Rs 1,250 crore to set up a high-performance EV-grade NdFeB magnets unit in the Khordha/Cuttack region. Concurrently, Larsen & Toubro Limited plans to invest Rs 2,400 crore into a sintered NdFeB permanent magnets facility located in Ganjam.
Additionally, World Titanium Industry Private Limited will establish a Titanium Dioxide Slag and Titanium Dioxide Pigment Manufacturing Unit in Ganjam with an investment of Rs 2,800 crore, they said.
In the manufacturing sector, Ratnamani Metals and Tubes Limited has proposed setting up an integrated speciality steel manufacturing facility in Jajpur involving an investment of Rs 1,642 crore.
Meanwhile, the pharmaceutical landscape will see Nectar Lifesciences Limited investing Rs 1,170 crore in a manufacturing unit in Sambalpur, while Jupiter Wagons Limited will establish a Railway Coach Manufacturing Facility in Jajpur with an investment of Rs 1,500 crore.
The Steel, Iron & Ferro Alloys sector accounted for a significant share of the approved investments. Rashmi Metallurgical Industry Private Limited will invest Rs 15,000 crore to establish a 4 MTPA Integrated Steel Plant in Jajpur, while Shyam Metalics and Energy Limited will invest Rs 7,580 crore in Sambalpur for a 1 MTPA Integrated Steel Manufacturing Unit.
Expanding existing capacities, SMC Power Generation Limited (Badmal) will invest Rs 5,350 crore to scale up its integrated steel and cement manufacturing unit in Jharsuguda, while its Hirma wing will funnel Rs 3,800 crore into a similar expansion project.
BR Steel & Power Private Limited will establish a 1.2 MTPA Integrated Steel Plant in Sambalpur with an investment of Rs 2,400 crore, and Orissa Alloy Steel Private Limited will invest Rs 1,200 crore in an Iron Ore Beneficiation Plant in Sundargarh.
In the power and renewable energy domain, Rajapuspa Renova LLP is slated to establish a pumped storage hydro power facility in Malkangiri with an investment of Rs 5,220 crore, which will generate 500 jobs. Adding to the energy basket, KU Urja Private Limited will invest Rs 2,471.98 crore in a coal-based thermal power plant in Jharsuguda.
The Chemical sector also witnessed a major investment with Singhal Steel & Power Private Limited proposing an Aluminium Downstream Product manufacturing unit in Rayagada with an investment of Rs 1,300.57 crore.
