To leverage the potential of resource rich Odisha, India’s leading steelmakers have pledged to invest at Make in Odisha Conclave 2022 in Bhuwneshwar. Overall Odisha government received 145 investment proposals worth over INR 7.26 lakh crore and signed 21 MoUs with various companies

JSW Group Chairman Mr Sajjan Jindal said that the group will invest about INR 1 lakh crore more in Odisha for setting up a steel plant in Paradip and silicon metal plant to produce solar panels. He mentioned that the Group already invested INR 60,000 crore in the state.

Tata Steel CEO & MD Mr TV Narendran said “Tata group company, which has so far invested INRs 75,000 crore in Odisha, will continue to invest here. Tata Steel has also acquired units like Neelachal Steel Plant, apart from setting up its own plant at Kalinganagar in Odisha. We already have a production capacity of 8 million tonnes in the state and in this fiscal we are planning to double the capacity.”

Jindal Stainless Managing Director Mr Abhyuday Jindal announced the Foundation Stone laying of Jindal Stainless Steel Park. He said “The steel park would benefit MSMEs to a large extent and make the state a role model for investment.”

Essar Capital Director Mr Prashant Ruia announced plans to set up multiple projects in Odisha with an investment of about INR 52,000 crore. He said “A ‘Pallet’ complex would be set up in Odisha with an investment of INR 12,000 crore. Apart from this, the company is also planning to set up a petrochemical complex in Odisha with an investment of INR 40,000 crore. This complex will be set up in collaboration with an international company.

Vedanta Resources Chairman & Founder Mr Anil Agarwal said his company is the biggest investor in Odisha by pumping in INR 80,000 crore and set to invest another INR 25,000 crore in proposed aluminium park at Jharsuguda. He laid the foundation stone virtually from the Summit. Spread over 253 acres at Jharsuguda, the Vedanta Aluminium Park will be India’s largest metal parks.

Adani Ports & SEZ Chief Executive Officer Mr Karan Adani said the company has invested INR 7,600 crore in Odisha and the planned capital investment will exceed INR 60,000 crore over the next ten years. He said “The Adani Group’s primary interests in Odisha are in ports and logistics, industrial clusters and special economic zones, power generation, transmission, and distribution, integrated natural resource management, renewable energy, data centres, defence, cement, and agri-businesses.”

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Strategic Research Institute

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