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Odisha Government Approves Industrial Projects Worth ₹1.36 Lakh Crore

By amfnews Dec 4, 2024 #Featured
Odisha Government Approves Industrial Projects Worth ₹1.36 Lakh Crore_AMF NEWSOdisha Government Approves Industrial Projects Worth ₹1.36 Lakh Crore_AMF NEWS
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In a major step toward fostering industrial growth and job creation, the Odisha government has approved industrial projects worth ₹1,36,622.24 crore, which are expected to generate over 74,350 jobs across the state.  

The projects, sanctioned by the High-Level Clearance Authority (HLCA) under the chairmanship of Chief Minister Shri Mohan Majhi, span nine critical sectors, including steel, chemicals, green energy, textiles, and aviation fuel. Strategically distributed across 10 districts—such as Jajpur, Khordha, Jharsuguda, and Sambalpur—these initiatives are expected to significantly boost Odisha’s economic landscape. 

One of the standout investments comes from the Tata Group, which has committed ₹61,769 crore to expand its integrated steel plant at Neelachal Ispat Nigam in Jajpur. The expansion aims to scale production capacity from 0.98 million tonnes per annum (MTPA) to 9.50 MTPA, reinforcing Odisha’s status as a steel manufacturing hub. 

Other key projects include Bharat Coal Gasification and Chemicals’ ₹11,782 crore ammonium nitrate plant in Jharsuguda and Hindalco Industries’ ₹10,645 crore investment to enhance its aluminium smelter capacity in Sambalpur. These projects promise to catalyze industrial growth and reinforce Odisha’s position as a critical contributor to India’s industrial and economic ecosystem. 

The timing of these announcements underscores the state government’s proactive approach in showcasing its industrial progress ahead of Prime Minister Modi’s visit. It also highlights Odisha’s commitment to becoming a hub for transformative industrial projects, aligning with the state’s vision for inclusive and sustainable development. 

Odisha’s focus on industrial diversification and strategic investment in key sectors further cements its position as a rising industrial powerhouse in India. 

 

By amfnews

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