Bhubaneswar: The Odisha government approved 20 mega investment proposals on Wednesday, amounting to Rs 76,612 crore, which are projected to generate employment for more than 50,000 individuals in the state.
The proposals were greenlit during a meeting of the High Level Clearance Authority (HLCA) chaired by Chief Minister Mohan Charan Majhi.
Chief Minister Majhi stated that with progressive policies, robust infrastructure, and a strong commitment to enhancing the business environment, Odisha is successfully attracting investments in both emerging and core sectors. He emphasized that these projects will significantly contribute to job creation, industrial diversification, and inclusive economic growth.
The projects encompass key sectors such as gemstone manufacturing, green energy equipment, aerospace and defence, value-added products from rare earth minerals, pharmaceuticals, mechanical and electrical capital goods, chemicals, steel, iron and ferro alloys, as well as power and renewable energy, according to an official.
Kira Diam LLP, Anjali Labtech Limited, and Grow Magnificent Private Limited plan to establish lab-grown diamond manufacturing units in Khordha with a combined investment of Rs 9,817.50 crore, creating 8,100 job opportunities. These initiatives are anticipated to bolster Odisha’s standing in the gemstone manufacturing industry.
In the Green Energy Equipment sector, Tata Power Renewable Energy Limited will invest Rs 10,000 crore to set up an ingot and wafers along with a Solar PV Cell Manufacturing Unit in Ganjam district. Additionally, Saatvik Solar Industries Private Limited has proposed an investment of Rs 1,709.81 crore for a Solar PV Cells Manufacturing Facility in the same district.
N.A.N. Magnetech Private Limited plans to invest Rs 1,250 crore to establish a High-Performance EV Grade NdFeB Magnets manufacturing unit in Khordha-Cuttack, while Larsen & Toubro Limited will invest Rs 2,400 crore in a Sintered NdFeB Permanent Magnets manufacturing facility in Ganjam.
Furthermore, World Titanium Industry Private Limited will set up a Titanium Dioxide Slag and Titanium Dioxide Pigment Manufacturing Unit in Ganjam with an investment of Rs 2,800 crore.
In the manufacturing sector, Ratnamani Metals and Tubes Limited has proposed an Integrated Speciality Steel Manufacturing Unit in Jajpur with an investment of Rs 1,642 crore.
In the pharmaceutical sector, Nectar Lifesciences Limited will invest Rs 1,170 crore in Sambalpur for a Pharmaceutical Manufacturing unit, while Jupiter Wagons Limited plans to establish a Railway Coach Manufacturing Facility in Jajpur with an investment of Rs 1,500 crore.
The Steel, Iron & Ferro Alloys sector received a substantial portion 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.
SMC Power Generation Limited (Badmal) will invest Rs 5,350 crore for the expansion of its Integrated Steel Plant and Cement Manufacturing Unit in Jharsuguda, while SMC Power Generation Limited (Hirma) will invest Rs 3,800 crore for a similar expansion project.
BR Steel & Power Private Limited plans to 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 & Renewable Energy sector, Rajapuspa Renova LLP will establish a Pumped Storage Hydro Power Plant in Malkangiri with an investment of Rs 5,220 crore, generating 500 job opportunities. Additionally, KU Urja Private Limited will invest Rs 2,471.98 crore in a Coal-Based Thermal Power Plant in Jharsuguda.
The Chemical sector also saw significant 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.
