Bhubaneswar, 07/01/2025: The Odisha government has approved five major investment projects worth a combined ₹44,793 crore, expected to generate 23,005 jobs across the state, signaling a strong push toward industrial growth and economic development. The approvals were granted during a high-level clearance authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi, covering key districts including Jajpur, Dhenkanal, and Cuttack. The projects span sectors such as refinery and petrochemicals, green energy equipment, biotechnology, steel, and chemicals, highlighting Odisha’s strategic focus on diversified industrial development.
One of the flagship initiatives is a large unrefined oil storage facility to be developed in Jajpur by Indian Strategic Petroleum Reserves Limited. With an investment of ₹8,743 crore, the facility will have a storage capacity of 4 million tons, enhancing the state’s petroleum reserve infrastructure and contributing significantly to India’s energy security.
In the steel sector, Tata Steel will invest ₹26,175 crore in Jajpur to set up a cold-rolled and coated steel production unit along with a plate mill facility. This project is expected to strengthen Odisha’s position as a key player in India’s steel industry, boosting both production capacity and employment.
In Dhenkanal, Inox Solar Limited will invest ₹4,000 crore to establish a state-of-the-art solar module and photovoltaic (PV) cell manufacturing plant, underscoring Odisha’s commitment to sustainable and green energy solutions. The project aligns with national and state objectives to expand renewable energy production and promote environmentally friendly industrial development.
Cuttack will host two significant projects as well. ACME Cleantech Solutions will invest ₹4,050 crore to produce protein and vitamin-enriched products from mushrooms, tapping into the biotechnology and nutrition sectors. Additionally, Himadri Green Technologies Innovations will set up a mineral oil and tire recycling plant with an investment of ₹1,825 crore, promoting circular economy practices and sustainable industrial operations.
Chief Minister Mohan Charan Majhi highlighted the significance of these approvals, stating that granting clearance ahead of the Utkal Odisha Conclave 2025 demonstrates Odisha’s growing prominence as an investment destination. He remarked, “These investments will not only create thousands of job opportunities but also position Odisha as a prime destination for investors, ensuring progress and prosperity for our people.”
The projects are expected to strengthen Odisha’s industrial base, expand employment opportunities, and accelerate economic development in the state. By attracting investments across multiple high-growth sectors, the government aims to build a diversified industrial ecosystem that supports innovation, sustainability, and long-term prosperity for the people of Odisha.
With these approvals, Odisha reinforces its image as a progressive, investor-friendly state, paving the way for enhanced industrial activity, infrastructure development, and a resilient, future-ready economy.
