Odisha Approves ₹76,612-Crore Industrial Investment Proposals; 50,000 Jobs Expected
20 projects across nine districts receive HLCA approval, with green energy, steel, rare earths and manufacturing sectors featuring prominently
In a major development for Odisha's industrial sector, the High-Level Clearance Authority (HLCA), chaired by Chief Minister Mohan Charan Majhi, approved 20 large industrial projects involving a cumulative investment of ₹76,611.86 crore with the potential to generate more than 50,000 employment opportunities across nine districts of the state.
The approved proposals cover diverse sectors including green energy equipment, aerospace and defence, gemstone manufacturing, rare earth mineral-based products, pharmaceuticals, chemicals, steel, ferro alloys, power and renewable energy.
Addressing the meeting, the Chief Minister said Odisha has emerged as one of the country's most attractive investment destinations due to its progressive industrial policies, robust infrastructure, improved ease of doing business and proactive investor facilitation measures.
A key highlight of the approvals was Odisha's emergence as a hub for lab-grown diamond manufacturing. Three companies—Kira Diam LLP, Anjali Labtech Limited and Grow Magnificent Private Limited—will establish manufacturing facilities in Khordha with a combined investment of ₹981.750 crore.
The green energy sector attracted major investments, led by Tata Power Renewable Energy Limited, which will set up an ingot, wafer and solar photovoltaic cell manufacturing unit in Ganjam with an investment of ₹10,000 crore. Saatvik Solar Industries will invest another ₹1,709.81 crore in a solar cell manufacturing facility in the district.
Odisha's focus on critical minerals and value-added products received a significant push with approvals for projects involving rare earth-based products. Larsen & Toubro Limited, N.A.N. Magtech Private Limited and World Titanium Industry Private Limited will together invest over ₹6,400 crore in manufacturing permanent magnets and titanium products.
The steel sector accounted for the largest share of investments. Rashmi Metallics Industry Private Limited will establish a 4 MTPA integrated steel plant in Jajpur with an investment of ₹15,900 crore, while Shyam Metalics and Energy Limited will invest ₹7,580 crore in an integrated steel-making unit in Sambalpur.
Additional steel sector investments include expansion projects by SMC Power Generation Limited at Badmal and Hirma in Jharsuguda, besides new facilities by BR Steel & Power Private Limited and Orissa Alloy Steel Private Limited.
The HLCA also approved a ₹1,500-crore railway coach manufacturing facility by Jupiter Wagons Limited in Jajpur and a ₹1,170-crore pharmaceutical unit by Nectar Lifesciences Limited in Sambalpur.
In the power sector, Rajgupsa Renova LLP received approval for a ₹5,220-crore pumped storage hydroelectric project in Malkangiri, while KC Urja Private Limited will establish a thermal power plant in Jharsuguda with an investment of nearly ₹2,472 crore.
Rayagada also attracted a major industrial project, with Singhal Steel & Power Private Limited proposing an aluminium downstream products manufacturing unit involving an investment of ₹1,300.57 crore.
Chief Minister Majhi said the projects would accelerate industrial diversification, create large-scale employment opportunities and drive inclusive economic growth across Odisha. He expressed confidence that continued investments in both emerging and core sectors would further strengthen the state's position as a leading industrial destination in India.