Odisha Poised to Become Global Energy Hub with Mega Investments: Dharmendra Pradhan

Bhubaneswar, April 8 (UNI): Union Education Minister Dharmendra Pradhan on Tuesday projected Odisha as a forthcoming global energy hub, following a series of landmark agreements signed at the Odisha Investors Summit held in New Delhi. The summit witnessed the Odisha government inking multiple Memoranda of Understanding (MoUs) with key players in India’s energy sector, marking a transformative step for the state’s industrial and economic landscape.

Among the most significant developments was the signing of an MoU with Indian Oil Corporation Limited (IOCL) for the establishment of a mega dual-feed cracker (DFC) and its downstream units at Paradip. With an estimated investment of ₹58,042 crore, the project is set to revolutionize the petrochemical sector and significantly reduce India’s dependence on imports.

Another major agreement was signed with Indian Strategic Petroleum Reserves Limited (ISPRL) to set up a crude oil storage facility at Chandikhol in Jajpur district at a cost of ₹8,743 crore. This facility will bolster India’s strategic petroleum reserve capacity, extending the country’s crude oil sustainability from 9.5 days to approximately 17 days.

Additionally, Petronet LNG Limited has committed ₹2,306 crore for the development of a new LNG terminal at Gopalpur. This will be the third such terminal on India’s east coast, complementing existing facilities at Ennore (Tamil Nadu) and Dhamra (Odisha), and will play a pivotal role in meeting the growing energy demands of eastern India.

Speaking at the summit, Pradhan credited Prime Minister Narendra Modi, Odisha Chief Minister Mohan Charan Majhi, and Union Petroleum Minister Hardeep Singh Puri for their support in making these agreements possible. He emphasized that these initiatives are a testament to the “Double Engine Government” model and will empower Odisha’s youth through entrepreneurship opportunities.

“This planned mega investment will usher in a new era in Odisha’s growth journey, positioning the state as a global powerhouse in the energy sector,” said Pradhan. He noted that these projects would not only create thousands of direct and indirect jobs but also foster a robust entrepreneurial ecosystem in the state.

Pradhan also highlighted the importance of the petrochemical complex in Paradip in boosting India’s self-reliance and enhancing the Paradeep Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR).

Over the last decade, Odisha has attracted petroleum sector investments worth over ₹2.04 lakh crore, and these recent agreements are expected to further elevate the state’s status in the global energy map.

In closing, the Union Minister urged Chief Minister Majhi to introduce a state-level biogas policy to complement the Swachh Bharat Mission and accelerate clean energy initiatives across Odisha.