Odisha Seals Rs 98,880 Cr Investment Deals During CM Majhi’s New Delhi Visit
9 April 2025 4:47 AM
Odisha Chief Minister Mohan Charan Majhi presiding over the Investors’ Meet in New Delhi (Photo by arrangement)
New Delhi/Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi’s two-day visit to New Delhi culminated in a major boost to the state’s industrial ambitions, with the signing of 13 Memoranda of Understanding (MoUs) worth Rs 98,880 crore. The agreements, inked during a high-profile Investors’ Meet on Tuesday, are projected to create nearly 67,000 jobs across key sectors.
In addition to the MoUs, the state received 15 investment intents, pushing the total potential investment commitment to Rs 1,03,090 crore. If materialized, these proposals could generate up to 95,915 employment opportunities, reinforcing Odisha’s emergence as a rising industrial powerhouse in eastern India.
The highlight of the event was the landmark agreement between the Government of Odisha and Indian Oil Corporation Ltd (IOCL) for a Dual-Feed Naphtha Cracker Project, proposed to be set up at Paradip. With an estimated investment of Rs 58,042 crore, the project is expected to create around 24,000 jobs and significantly enhance the state’s petrochemical infrastructure.
Additional MoUs were signed with Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG, aimed at strengthening India’s energy security and promoting import substitution. These agreements also align with the state’s broader goals of sustainable industrial development and resilient supply chains.
Addressing investors at the meet, Chief Minister Majhi outlined his government’s vision of transforming Odisha into a petrochemical and manufacturing hub. “Today’s MoU with IOCL is a defining moment in our industrial journey,” he said. “With its strategic location and growing infrastructure, Paradip is poised to emerge as a transformative industrial node, much like Dahej in Gujarat.”
Reiterating the state’s commitment to a business-friendly environment, Majhi assured investors of comprehensive support through infrastructure upgrades, regulatory reforms, and industry-aligned skill development initiatives.
Under CM Majhi’s leadership, Odisha is reimagining its industrial landscape with a focus on innovation, inclusive growth, and strategic partnerships. The New Delhi visit and the investment commitments secured signal growing investor confidence and Odisha’s evolution into a preferred destination for large-scale industrial ventures.
In addition to the MoUs, the state received 15 investment intents, pushing the total potential investment commitment to Rs 1,03,090 crore. If materialized, these proposals could generate up to 95,915 employment opportunities, reinforcing Odisha’s emergence as a rising industrial powerhouse in eastern India.
The highlight of the event was the landmark agreement between the Government of Odisha and Indian Oil Corporation Ltd (IOCL) for a Dual-Feed Naphtha Cracker Project, proposed to be set up at Paradip. With an estimated investment of Rs 58,042 crore, the project is expected to create around 24,000 jobs and significantly enhance the state’s petrochemical infrastructure.
Additional MoUs were signed with Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG, aimed at strengthening India’s energy security and promoting import substitution. These agreements also align with the state’s broader goals of sustainable industrial development and resilient supply chains.
Addressing investors at the meet, Chief Minister Majhi outlined his government’s vision of transforming Odisha into a petrochemical and manufacturing hub. “Today’s MoU with IOCL is a defining moment in our industrial journey,” he said. “With its strategic location and growing infrastructure, Paradip is poised to emerge as a transformative industrial node, much like Dahej in Gujarat.”
Reiterating the state’s commitment to a business-friendly environment, Majhi assured investors of comprehensive support through infrastructure upgrades, regulatory reforms, and industry-aligned skill development initiatives.
Under CM Majhi’s leadership, Odisha is reimagining its industrial landscape with a focus on innovation, inclusive growth, and strategic partnerships. The New Delhi visit and the investment commitments secured signal growing investor confidence and Odisha’s evolution into a preferred destination for large-scale industrial ventures.
( Source : Asian Age )
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