Bhubaneswar, June 19 (APAC Media): In a major boost to industrial development and employment generation, the Odisha government has approved 20 mega industrial projects with a combined investment of Rs 76,612 crore.
The projects are expected to create more than 50,500 employment opportunities across nine districts of the state.
The approvals were granted by the High-Level Clearance Authority (HLCA), chaired by Chief Minister Mohan Charan Majhi.
“Odisha has emerged as one of the country’s leading investment destinations over the past two years, driven by progressive policies, improved ease of doing business, robust infrastructure and proactive investor facilitation,” Chief Minister Mohan Charan Majhi said.
Odisha Emerging as a Hub for Lab-Grown Diamond Manufacturing
One of the major highlights of the approvals is Odisha’s growing presence in the gemstone manufacturing sector.
Kira Diam LLP, Anjali Labtech Limited and Grow Magnificent Private Limited will jointly invest Rs 9,817.50 crore to establish lab-grown diamond manufacturing units in Khordha district. The projects are expected to create around 8,100 jobs.
Major Investments in Renewable Energy and Green Technologies
In the green energy sector, Tata Power Renewable Energy Limited has received approval to establish an ingot, wafer and solar photovoltaic (PV) cell manufacturing facility in Ganjam district with an investment of Rs 10,000 crore. The project is expected to generate 5,000 jobs.
Saatvik Solar Industries Private Limited will also invest Rs 1,709.81 crore in a solar PV cell manufacturing unit in Ganjam, creating over 500 employment opportunities.
Rare Earth and Advanced Manufacturing Projects Get Nod
The state has approved several projects focused on advanced manufacturing and electric mobility.
NAN Magnetech Private Limited will invest Rs 1,250 crore in a high-performance EV-grade magnet manufacturing facility in Khordha/Cuttack, generating around 2,000 jobs.
Larsen & Toubro Limited will establish a permanent magnet manufacturing unit in Ganjam with an investment of Rs 2,400 crore, creating another 2,000 employment opportunities.
World Titanium Industry Private Limited will set up a titanium dioxide manufacturing facility in Ganjam with an investment of Rs 2,800 crore, generating approximately 1,500 jobs.
Boost for Steel, Railways and Pharmaceutical Sectors
The steel sector accounted for a significant share of the approved investments.
Rashmi Metallurgical Industry Private Limited will establish a 4 MTPA integrated steel plant in Jajpur with an investment of Rs 15,000 crore.
Shyam Metalics and Energy Limited will invest Rs 7,580 crore in an integrated steel manufacturing unit in Sambalpur, creating around 3,500 jobs.
SMC Power Generation Limited has received approvals for expansion projects in Jharsuguda worth over Rs 9,000 crore combined, expected to generate approximately 4,000 jobs.
BR Steel & Power Private Limited will establish an integrated steel plant in Sambalpur with an investment of Rs 2,400 crore, creating more than 5,000 jobs.
In the railway sector, Jupiter Wagons Limited will invest Rs 1,500 crore in a railway coach manufacturing facility in Jajpur, generating 1,000 employment opportunities.
Meanwhile, Nectar Lifesciences Limited will establish a pharmaceutical manufacturing unit in Sambalpur with an investment of Rs 1,170 crore, creating around 1,000 jobs.
Power, Infrastructure and Downstream Manufacturing Projects Approved
Rajapuspa Renova LLP will invest Rs 5,220 crore in a pumped storage hydropower project in Malkangiri district.
KU Urja Private Limited has been approved to set up a coal-based thermal power plant in Jharsuguda with an investment of Rs 2,471.98 crore.
In Rayagada, Singhal Steel & Power Private Limited will establish an aluminium downstream products manufacturing unit with an investment of Rs 1,300.57 crore, creating approximately 3,000 jobs.
Focus on Employment and Inclusive Growth
The Odisha government said the approved projects span a wide range of sectors, including renewable energy, steel, pharmaceuticals, railways, gemstones, rare earth materials, and advanced manufacturing.
Officials said the investments are expected to significantly strengthen the state’s industrial ecosystem while generating employment opportunities and supporting long-term economic growth across multiple regions of Odisha.
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