Received Rs7.26 lakh crore investment proposals at Make in Odisha conclave: Govt

Chief minister Naveen Patnaik said Odisha was on its way to become a trillion-dollar economy in the near future

Updated on: Dec 1, 2022, 22:56:58 IST

By Debabrata Mohanty

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BHUBANESWAR: The Odisha government on Thursday said it has received 145 proposals for investment of around ₹7.26 lakh crore on the first day of the ‘Make in Odisha’ conclave against a target of ₹6 lakh crore.

Odisha chief minister Naveen Patnaik during Make in Odisha Conclave 2022 in Bhubaneswar on Thursday. (PTI)

Industry secretary Hemant Sharma said 21 MoUs were signed on the first day of the conclave while the state received 67 investment proposals including a ₹1 lakh crore investment by Sajjan Jindal’s JSW group.

Speaking at the conclave in the presence of chief minister Naveen Patnaik, JSW Group chairman Sajjan Jindal said the group will invest about ₹1 lakh crore more in Odisha to set up a steel plant in Paradip and a silicon metal plant to produce solar panels.

The group has already invested ₹60,000 crore in the state. “We were amongst the first ones to tap into the mines of Odisha and utilise the mineral resources. With current mineral revenue of ₹10,000 – 40,000 crore, we are sure that Odisha will one of the first states to become a trillion-dollar economy.”

The Adani Group, which has invested ₹7,600 crore in Odisha, said its planned capital investment will exceed ₹60,000 crore over the next ten years. Karan Adani, chief executive officer of Adani Ports and SEZ Ltd, said the group’s investments would rise.

During the conclave, Vedanta Limited, India’s largest producer of aluminium, announced the foundation stone laying of the Vedanta Aluminium Park, a joint venture between Vedanta Aluminium and the Odisha Industrial Infrastructure Development Corporation in Jharsuguda district. Spread across 253 acres, the Vedanta Aluminium Park will be one of India’s largest metal parks for aluminium-based businesses.

“Odisha has the potential to become the aluminium capital of the world. Over the years, Vedanta has invested over ₹1 lakh crore and created over 5 lakh direct and indirect livelihood opportunities in the state and now the Vedanta Aluminium Park will bring more downstream players to Odisha to maximise value addition,” said Vedanta chairman Anil Agarwal.

Chief minister Naveen Patnaik said Odisha was on its way to become a trillion-dollar economy in the near future and will emerge as the gateway to East and South East Asia.

“Stable governance is the cornerstone of peace, prosperity and progress. We have an unprecedented mandate from the electorate due to our continued performance over the last two decades. Odisha is a major force in the field of mining and mineral-based industries. The state has attracted major investments in steel and aluminium projects and will emerge as the global hub in these sectors by the turn of this decade,” said Patnaik.

ABOUT THE AUTHOR
Debabrata Mohanty
Debabrata Mohanty is a senior assistant editor of Hindustan Times who works as state correspondent from Odisha covering the state's politics, governance, public policy, natural disasters, environment and its society for close to three decades. With his long years of reporting from the state capital of Bhubaneswar, Mohanty has been known as one of the most experienced and credible journalists covering Odisha for the national English dailies. His reporting combines on-ground detail with deep institutional knowledge detailing the state's changing politics, governance issues, administrative reforms and the functioning of its public institutions. He has regularly reported on issues ranging from legislative developments and public policy implementation. Politics is his core areas of expertise as he closely tracks Odisha's political landscape, including the rise and transformation of the Bharatiya Janata Party (BJP), the Biju Janata Dal (BJD), the two principal political parties in Odisha. His long association with the state's political establishment enables him to write on contemporary developments in a larger political context. Mohanty takes a deep interest in writing human interest stories, environmental issues and documenting the impact of cyclones, floods, heatwaves, and other climate-related events in one of the most disaster-prone states. His coverage extends to public health, governance reforms and stories on accountability of government institutions. Before joining Hindustan Times, Mohanty worked with The Indian Express, Mail Today, and The Telegraph, where he covered at least six general elections and as many assembly elections. In 2007, he was selected for the prestigious Chevening Young Indian Print Journalist Programme at the University of Lincoln, United Kingdom, where he received advanced training in print journalism. In 2009 he won the Press Institute of India-International Committee of Red Cross award on conflict reporting for his on-ground reportage of 2008 Kandhamal riots.Read More

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