In a massive boost to industrial growth, the Odisha government on Thursday gave its nod to seven major investment proposals with a cumulative value of Rs 55,783 crore. These projects are projected to generate 14,507 employment opportunities across the state, marking a significant stride towards economic development.
Steel Sector Leads with Mega Investment
The High-Level Clearance Authority (HLCA), chaired by Chief Minister Mohan Charan Majhi, spearheaded the approvals. The steel sector emerged as the frontrunner, with the committee green-lighting a colossal plan by Saffron Resources Pvt Ltd, a company under the JSW Group. The firm will invest Rs 35,000 crore to establish a 6 MTPA (Million Tonnes Per Annum) steel plant in Dhenkanal district. This single project is expected to create approximately 8,000 jobs, significantly reinforcing Odisha's position as a premier steel manufacturing hub in India.
Diverse Sectors Get Government Nod
The approved projects span a wide array of sectors, showcasing the state's diversified industrial push. Apart from steel, the investments cover rare earth manufacturing, automobiles and auto-components, semiconductors, industrial gases, ferro alloys, and power and renewable energy. The projects will be strategically located in the districts of Dhenkanal, Ganjam, Keonjhar, and Khurda.
Other significant investments cleared in the 43rd HLCA meeting include:
- Jindal Poly Films Ltd will invest Rs 12,000 crore in Ganjam for a Titanium Dioxide Pigment unit under the rare earth manufacturing category, creating 4,000 jobs.
- An unnamed company in the automobile sector received approval for a Rs 1,697 crore investment in Ganjam for manufacturing tyres, carbon black, and zinc oxide, generating 685 jobs.
- Sancode Semi Pvt Ltd plans to invest Rs 1,649.98 crore for an OSAT (Outsourced Semiconductor Assembly and Test) unit in Khurda, which will create 570 jobs.
- Inox Air Products Pvt Ltd will set up an Air Separation Unit in Dhenkanal with an investment of Rs 1,300 crore, leading to 180 new jobs.
- Ferro Alloys Corporation received approval for a Rs 2,000 crore investment in Keonjhar for ferro alloys facilities and a 100 MW captive power plant, promising 772 jobs.
- GMR Kamalanga Energy Ltd will invest Rs 2,136.02 crore for a 350 MW thermal power plant in Dhenkanal, creating 300 employment opportunities.
Vision for a Self-Reliant and Prosperous Odisha
Chief Minister Mohan Charan Majhi emphasized the strategic intent behind these clearances. He stated that the government is focusing on different regions of Odisha to build a strong, self-reliant (Atmanirbhar), and prosperous (Samruddha) state by the year 2036. The dispersal of projects across multiple districts is aimed at ensuring balanced regional development and widespread job creation.
This landmark approval of seven high-value projects underscores the state government's aggressive push to attract capital and position Odisha as a top destination for diverse industries, from traditional manufacturing to cutting-edge semiconductors.
