The Odisha government has signed 54 MoUs with various companies, securing proposed investments exceeding ₹5 lakh crore on the first day of the ‘Utkarsh Odisha-Make in Odisha Conclave.’ The announcement was made on Tuesday by the state government, marking a significant boost to the state’s industrial landscape.
State Industries Secretary Hemant Sharma revealed that the Adani Group emerged as the leading investor, proposing projects worth ₹2.31 lakh crore across sectors including cement, power, alumina, smelter, and industrial parks. Chief Minister Mohan Charan Majhi also met with Adani Ports & Special Economic Zone Ltd Managing Director Karan Adani on the sidelines of the event, which was inaugurated by Prime Minister Narendra Modi.
Among other major commitments, Sajjan Jindal’s JSW Group signed MoUs worth ₹75,000 crore, including a partnership with Korean steel giant Posco to establish a 5 million tonne per annum (MTPA) steel plant in Keonjhar district with an investment of ₹35,000 crore. Last year, JSW had signed a similar MoU with Posco.
Vedanta Limited, led by Anil Agarwal, committed to a ₹1 lakh crore investment for a 3 MTPA aluminium plant and an aluminium park, further strengthening Odisha’s position in the metal industry.
The Indian Oil Corporation (IOC) also inked an MoU worth ₹70,000 crore, featuring a ₹61,000 crore naphtha cracker project in Paradip and a yarn manufacturing unit in Bhadrak.
Additionally, Jindal Steel and Power, headed by Sajjan Jindal, pledged ₹70,000 crore for various projects, including the establishment of a steel plant in Keonjhar district.
While these investment commitments signal strong industrial interest in Odisha, experts caution that not all MoUs necessarily translate into actual projects. Implementation and execution remain key factors in determining the success of these agreements.
The ‘Utkarsh Odisha-Make in Odisha Conclave’ is aimed at positioning Odisha as a premier investment destination by attracting large-scale industrial projects across multiple sectors.
