Odisha Chief Minister Greenlights Massive Rs 44,241 Crore Industrial Investment Push
In a significant move to boost industrial growth and employment, Odisha Chief Minister Mohan Charan Majhi on Saturday approved investments totaling Rs 44,241 crore for 10 major industrial projects spanning eight districts across the state. The comprehensive approval, granted during the 44th meeting of the High-Level Clearance Authority (HLCA), is projected to generate approximately 8,765 new jobs, marking a substantial step forward in Odisha's economic development agenda.
Semiconductor and Advanced Materials Take Center Stage
The investment approvals were dominated by cutting-edge sectors, with semiconductor manufacturing and renewable energy infrastructure receiving particular emphasis. ASP Semicon Private Ltd secured approval for a major semiconductor memory chip modules plant in Khurda district, involving an investment of Rs 4,620 crore. This facility is expected to create 2,500 direct jobs and represents a crucial advancement in Odisha's ambitions to become a semiconductor manufacturing hub.
In the specialized advanced materials segment, Magnova Private Ltd proposed a Rs 1,050 crore investment to establish an integrated high-performance magnet manufacturing facility, also in Khurda district. This project will further strengthen Odisha's position in the rare earths and specialized materials industry, contributing to technological self-reliance.
Major Manufacturing and Infrastructure Projects Approved
The HLCA meeting cleared several other substantial industrial proposals:
- Bharat Forge Ltd committed Rs 3,000 crore to establish an automotive, aerospace, and defense components manufacturing unit in Dhenkanal district, expected to generate 1,000 jobs and position Odisha as a destination for high-precision engineering.
- NCL Industries Ltd plans to invest Rs 2,000 crore in Koraput district, while Dalmia Cement (Bharat) Ltd will set up an integrated cement plant in Malkangiri with an identical Rs 2,000 crore investment. Together, these projects will create about 2,000 jobs and accelerate industrial development in southern Odisha.
- In telecom infrastructure, Shreetech Data Limited-CLS will invest Rs 1,622 crore to establish a cable landing station in Puri, positioning Odisha as a strategic digital gateway on India's eastern coast.
Renewable Energy Infrastructure Receives Major Boost
A significant highlight of the approvals was the emphasis on renewable energy, with four large pumped-storage hydropower projects receiving clearance:
- Adani Hydro Energy Twelve Ltd - Rs 9,731.47 crore investment in Nayagarh district
- Sangamam CD Hydro Consortium - Rs 9,000 crore investment in Koraput district
- Greenko OR01 IREP Pvt Ltd - Rs 7,506.94 crore investment in Kalahandi district
- Jindal Green PSP Two Pvt Ltd - Rs 3,711.56 crore investment in Deogarh district
These projects represent a combined investment of approximately Rs 29,950 crore in renewable energy infrastructure, underscoring Odisha's commitment to sustainable development and energy security.
CM Emphasizes Strategic Execution and Global Opportunities
Chief Minister Mohan Charan Majhi emphasized the need for strategic clarity and coordinated action to ensure timely implementation of the approved projects. "Odisha must move with strategic clarity to tap emerging global opportunities, strengthen ease of doing business, and ensure timely grounding of approved projects," Majhi stated during the HLCA meeting.
The comprehensive investment package spans multiple industrial sectors and geographical regions, with projects distributed across Khurda, Dhenkanal, Koraput, Malkangiri, Nayagarh, Kalahandi, Deogarh, and Puri districts. This broad distribution aims to promote balanced regional development while creating employment opportunities across the state.
The approvals come at a crucial time as Odisha seeks to enhance its industrial competitiveness, attract global investment, and create sustainable employment opportunities for its growing workforce. The diverse portfolio of projects—ranging from semiconductors and advanced materials to renewable energy and digital infrastructure—reflects a comprehensive approach to industrial development that addresses both current economic needs and future technological trends.
