News Brief
Odisha’s Business Summit Draws Rs 16.73 Lakh Crore Investments, MoUs Signed Across 20 Sectors
Odisha CM Mohan Charan Majhi
Odisha has secured investments worth over Rs 16 lakh crore during the business summit held recently by the government.
The investment proposals have an employment potential of over 12 lakh jobs across 20 sectors, CM Mohan Charan Majhi announced.
Adani Group has committed to invest Rs 2.3 lakh crore in Odisha over the next five years.
The investment will be spread across sectors including power, cement, aluminium, city gas, and industrial parks.
Karan Adani, Managing Director of Adani Ports and SEZ Ltd, met with Odisha Chief Minister Mohan Charan Majhi to exchange memorandums of understanding for investments in the state.
The MoU was signed during the ‘Utkarsh Odisha - Make in Odisha Conclave 2025,’ a global investment summit.
Additional chief secretary of Odisha's Industries department Hemant Sharma said that Adani Group's proposed investment is the highest investment proposal received by the state so far.
“Adani Group has announced to invest Rs 2.3 lakh crore, which is the highest investment proposal received by the state so far,” Sharma was quoted as saying by The New Indian Express.
Jindal Steel and Power (JSP) will invest Rs 70,000 crore for the expansion of Angul steel plant.
Tata Steel has committed Rs 80,000 crore, while new petrochemical, IT, renewable energy, and semiconductor industries are expected to take shape in Paradip and Gopalpur.
According to CM Majhi, the two-day Conclave, which was inaugurated by Prime Minister Narendra Modi on Tuesday, concluded with "remarkable success, drawing industry leaders, global delegates, investors, and policymakers".
"The conclave resulted in an overwhelming response, with 145 Memorandums of Understanding (MoUs) signed, attracting ₹12.89 Lakh Crore in investment across sectors like chemicals & petrochemicals, textiles, mining, renewable energy, IT, tourism, and food processing," Majhi said.
He added that these investments are expected to generate over 8.94 Lakh job opportunities, significantly boosting employment and economic growth in the state.
"Additionally, 448 investment intention forms were received, amounting to ₹3.84 Lakh Crore in proposed investments with an employment potential of 3.92 Lakh jobs. With a total of 593 projects, Odisha secured investments worth ₹16.73 Lakh Crore, creating an employment potential of 12.88 Lakh jobs across more than 20 sectors," he added.
