Odisha Signs MoUs Worth ₹98,880 Crore at Investors’ Meet in Delhi, Total Investment Proposals Cross ₹1 Lakh Crore

Bhubaneswar, April 8 – In a landmark moment for Odisha’s industrial growth, the state government on Tuesday signed 13 Memorandums of Understanding (MoUs) with prominent industrial houses, garnering investments worth ₹98,880 crore at a high-profile Investors’ Meet held in New Delhi. The agreements are projected to generate approximately 67,000 job opportunities, marking a major boost to regional economic development.

The Investors’ Meet, attended by Chief Minister Mohan Charan Majhi, was part of a strategic multi-day visit to the national capital aimed at attracting large-scale investments and showcasing Odisha’s potential as an emerging industrial powerhouse in Eastern India.

Investment Commitments Cross ₹1 Lakh Crore

Alongside the MoUs, the Odisha government also received 15 investment intents, pushing the total investment proposals to ₹1,03,090 crore, with the potential to create 95,915 jobs across the state. The sectors targeted include petrochemicals, specialty chemicals, textiles, shipbuilding, manufacturing, and energy.

IOCL Dual-Feed Naphtha Cracker Project: A Game Changer

The highlight of the meet was the signing of a MoU with Indian Oil Corporation Ltd. (IOCL) for the establishment of a Dual-Feed Naphtha Cracker Project in Paradip. This transformative project alone is expected to attract ₹58,042 crore in investment and generate employment for 24,000 individuals.

Describing the agreement as a landmark achievement, CM Majhi said, “Paradip is poised to become a transformative industrial hub on the lines of Dahej in Gujarat. This project will significantly enhance Odisha’s petrochemical capabilities and support India’s goal of industrial self-reliance.”

Major Industrial Collaborations Announced

In addition to IOCL, Odisha inked deals with several other key players:

• Indian Strategic Petroleum Reserves Ltd. (ISPRL)
• Petronet LNG

These collaborations aim to strengthen India’s energy security, enhance petrochemical infrastructure, and establish Odisha as a vital link in the national supply chain.

Other notable MoUs include:

• Kiri Industries Ltd. – to set up a specialty chemical production unit.
• Himadri Specialty Chemical Ltd. – plans to revamp a tyre manufacturing plant in Balasore.
• SLMG Beverages Pvt. Ltd. – to expand its bottling and manufacturing capacity in the state.
• Chowgule Group – exploring shipbuilding and repair unit establishment.
• Inox GFL Group – investing in chemical manufacturing following its acquisition of Gujarat Fluorochemicals.
• Bombay Dyeing Mfg. Co. Ltd. – looking to invest in home furnishing and textile production.

Diverse Sectoral Interest

In a reflection of Odisha’s widening industrial appeal, discussions were also held with:

• Association of Indian Manufacturers of Medical Devices (AIMED)
• Toy Association of India
• United States-India Business Council (USIBC)

These engagements highlighted the state’s efforts to attract investments in emerging sectors such as medical devices, apparel, and toys, expanding the manufacturing footprint and promoting MSME development.

CM Majhi’s Vision for Industrial Odisha

In his keynote address, Chief Minister Majhi reassured investors of Odisha’s pro-industry stance, emphasizing key government priorities:

• Streamlining regulations
• Upgrading infrastructure
• Investing in skill development tailored to industry needs
• Ensuring policy stability and ease of doing business

“Our government is focused on creating an enabling environment where industries can thrive, jobs can flourish, and economic growth becomes inclusive,” the Chief Minister stated.

A New Industrial Era for Odisha

With total investment proposals surpassing ₹1 lakh crore in just one event, Odisha has positioned itself as a front-runner among India’s rapidly industrializing states. The state’s evolving infrastructure, investor-friendly policies, and skilled human capital are drawing sustained interest from both domestic and global players.

The outcomes of the Investors’ Meet mark a turning point in Odisha’s industrial trajectory, reinforcing the state government’s commitment to driving sustainable, inclusive, and innovation-led development.