Odisha Secures ₹4.5 Lakh Cr Investment on Day 1 of Utkarsh Conclave 2025
Adani Group pledges an impressive Rs 2.3 lakh crore in investments
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Odisha Chief Minister Mohan Charan Majhi during an interaction with the top industry leaders at the Utkarsh Odisha-Make in Odisha Conclave 2025 in Bhubaneswar (Photo by arrangement)
Bhubaneswar: The Utkarsh Odisha – Make in Odisha Conclave 2025 opened to a resounding success, with the state government securing investment intents worth ₹4.5 lakh crore on the first day alone. With the event gaining momentum, Chief Minister Mohan Charan Majhi expressed confidence that the total investments would surpass the initial ₹5 lakh crore target and potentially quadruple.
“The enthusiasm for this event is unmatched, and investment prospects are set to surge further, especially with the encouragement from the Prime Minister,” Majhi stated. The inaugural day saw over 100 investment proposals and the signing of 54 Memoranda of Understanding (MoUs) across multiple sectors.
Major Investment Announcements
Adani Group Commits ₹2.3 Lakh Crore
The Adani Group made the largest commitment at the summit, pledging ₹2.3 lakh crore over the next five years in sectors such as power, cement, industrial parks, aluminum, city gas, and port expansion. Adani Ports and SEZ Managing Director Karan Adani formalized the agreement in a meeting with the Chief Minister.
“This is the single largest investment proposal received at Utkarsh Odisha 2025,” noted Industries Department Principal Secretary Hemant Sharma, emphasizing its impact on the state's industrial growth.
Vedanta to Invest ₹1 Lakh Crore
Vedanta Limited signed an MoU for a ₹1 lakh crore investment to develop a 6 MTPA alumina refinery, a 3-MTPA green aluminum plant, and an aluminum park in Rayagada district. Vedanta Group Chairman Anil Agarwal highlighted that the project would create 2 lakh jobs and boost MSME growth across automotive, power, construction, and logistics. The company is also developing the Sijimali bauxite mine, which will support its expansion.
JSW Group Plans ₹35,000 Crore Steel Plant
The JSW Group, led by Sajjan Jindal, announced plans to set up a 5 MTPA steel plant in Keonjhar, the home district of CM Majhi, with an investment of ₹35,000 crore. Jindal hinted at potential collaboration with POSCO, which has expressed interest in setting up a steel plant in Odisha.
Jindal Steel and Power to Expand Angul Plant
Jindal Steel and Power (JSP) Chairman Naveen Jindal revealed ambitious plans to upgrade its Angul steel plant from 6 MTPA to 25 MTPA by 2030, with a ₹70,000 crore investment. The company aims to double its capacity to 12 MTPA next year and ultimately make Angul the world’s largest and greenest steel plant. JSP has already invested over ₹1 lakh crore in Odisha.
Odisha’s Rise as an Industrial Powerhouse
With both domestic and international investors showing keen interest, the Utkarsh Odisha Conclave is reinforcing the state’s ambition to become a global industrial hub. “The overwhelming response from investors underscores Odisha’s potential as an emerging industrial powerhouse,” CM Majhi concluded.
“The enthusiasm for this event is unmatched, and investment prospects are set to surge further, especially with the encouragement from the Prime Minister,” Majhi stated. The inaugural day saw over 100 investment proposals and the signing of 54 Memoranda of Understanding (MoUs) across multiple sectors.
Major Investment Announcements
Adani Group Commits ₹2.3 Lakh Crore
The Adani Group made the largest commitment at the summit, pledging ₹2.3 lakh crore over the next five years in sectors such as power, cement, industrial parks, aluminum, city gas, and port expansion. Adani Ports and SEZ Managing Director Karan Adani formalized the agreement in a meeting with the Chief Minister.
“This is the single largest investment proposal received at Utkarsh Odisha 2025,” noted Industries Department Principal Secretary Hemant Sharma, emphasizing its impact on the state's industrial growth.
Vedanta to Invest ₹1 Lakh Crore
Vedanta Limited signed an MoU for a ₹1 lakh crore investment to develop a 6 MTPA alumina refinery, a 3-MTPA green aluminum plant, and an aluminum park in Rayagada district. Vedanta Group Chairman Anil Agarwal highlighted that the project would create 2 lakh jobs and boost MSME growth across automotive, power, construction, and logistics. The company is also developing the Sijimali bauxite mine, which will support its expansion.
JSW Group Plans ₹35,000 Crore Steel Plant
The JSW Group, led by Sajjan Jindal, announced plans to set up a 5 MTPA steel plant in Keonjhar, the home district of CM Majhi, with an investment of ₹35,000 crore. Jindal hinted at potential collaboration with POSCO, which has expressed interest in setting up a steel plant in Odisha.
Jindal Steel and Power to Expand Angul Plant
Jindal Steel and Power (JSP) Chairman Naveen Jindal revealed ambitious plans to upgrade its Angul steel plant from 6 MTPA to 25 MTPA by 2030, with a ₹70,000 crore investment. The company aims to double its capacity to 12 MTPA next year and ultimately make Angul the world’s largest and greenest steel plant. JSP has already invested over ₹1 lakh crore in Odisha.
Odisha’s Rise as an Industrial Powerhouse
With both domestic and international investors showing keen interest, the Utkarsh Odisha Conclave is reinforcing the state’s ambition to become a global industrial hub. “The overwhelming response from investors underscores Odisha’s potential as an emerging industrial powerhouse,” CM Majhi concluded.
( Source : Deccan Chronicle )
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