Odisha Secures Massive Investments: A Leap Towards Economic Growth

The Odisha government has secured Rs 4.50 lakh crore in investment commitments through MoUs with 54 companies at the 'Utkarsh Odisha-Make in Odisha Conclave.' Major contributors include Adani, Vedanta, JSW, and Avaada Group, aiming to boost sectors such as energy, IT, and semiconductor manufacturing.


Devdiscourse News Desk | Bhubaneswar | Updated: 29-01-2025 08:48 IST | Created: 29-01-2025 08:48 IST
Odisha Secures Massive Investments: A Leap Towards Economic Growth
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In a major economic stride, the Odisha government has clinched investment commitments worth Rs 4.50 lakh crore through 54 memorandums of understanding inked with diverse companies at the 'Utkarsh Odisha-Make in Odisha Conclave.' Prominent investors include the Adani Group, pledging Rs 2.28 lakh crore, and the Vedanta Group, committing Rs 1 lakh crore.

Additional significant investments came from the JSW Group, planning a steel plant in Keonjhar with an investment of Rs 35,000 crore, and Jindal Steel & Power, aiming to expand its Angul operations with an additional Rs 70,000 crore, although not formalized in an MoU yet.

Renewable energy firm Avaada Group will invest Rs 20,700 crore in green energy, and Kaynes Technology pledged Rs 1,500 crore for PCB and bare board production. The state's strategy includes developing IT clusters and a semiconductor manufacturing facility in Bhubaneswar, as it targets becoming a USD 500 billion economy by 2036.

(With inputs from agencies.)

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