The Odisha government signed 54 MoUs with a host of companies, which promised an investment commitment of Rs 4.50 lakh crore in the state. The agreements were inked on Tuesday, the first day of the Utkarsh Odisha–Make in Odisha Conclave in Bhubaneswar.
The Adani Group has committed to investing the highest amount of ₹2.28 lakh crore, while the Vedanta Group will invest around ₹1 lakh crore. The Sajjan Jindal-led JSW Group will invest ₹35,000 crore to set up a steel plant in Keonjhar district.
The Naveen Jindal-owned Jindal Steel & Power also announced plans to invest an additional ₹70,000 crore in its Angul plant, but this was not formalised as an MoU on Tuesday.
The Avaada Group, a renewable energy company, signed an MoU with the state government to invest ₹20,700 crore in green energy projects, including floating solar and pumped storage.
Odisha received a total investment intent of ₹20,900 crore in IT/ITeS, electronics, semiconductors, data centres, and ancillary sectors. These investments are expected to significantly boost its economic growth and ensure balanced regional development, officials said.
Kaynes Technology plans to invest ₹1,500 crore in the state in the PCB and bare board manufacturing sector.
During the day, Chief Minister Mohan Charan Majhi also inaugurated the virtual foundation-laying ceremony of SiCSem Private Ltd’s upcoming semiconductor project in the state.
The company is setting up a 15-acre silicon carbide semiconductor power devices manufacturing and ATMP facility at Infovalley, Bhubaneswar.
State IT Minister Mukesh Mahaling said Odisha aims to become a USD 500 billion economy by 2036 and a USD 1.5 trillion economy by 2047.
Odisha to sign MoUs for ₹3 lakh crore investment on Day 2
The Odisha government will sign at least 30 MoUs for investments of about ₹3 lakh crore on the second day of the Utkarsh Odisha–Make in Odisha Conclave on Wednesday. The MoUs are likely to be signed in sectors such as renewable energy, energy, food processing, tourism, and agri-enterprises.
Additional Chief Secretary (ACS) of the Industries Department, Hemant Sharma, said around 30 MoUs will be signed in the first half of Wednesday, bringing in investments worth ₹3 lakh crore to Odisha.
Sharma said that the agreements with some other companies are also likely to be signed during the second half of the session, following approval from the chief minister.
Prime Minister Narendra Modi inaugurated the two-day Utkarsh Odisha Conclave on Tuesday at Janata Maidan.
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