Odisha govt signs multiple MoUs attracting huge investments
Bhubaneswar: The Odisha government on Tuesday signed multiple Memoranda of Understanding (MoU) attracting huge investments to the state during the second day of Chief Minister Mohan Charan Majhi’s two-day visit to New Delhi.
CM Majhi, who is in New Delhi, has held several rounds of one-on-one discussions with top industry captains since Monday, and also joined an Investors’ Meet at Taj Palace.
“Overall, 13 MoUs were signed, amounting to Rs 98,880 crore, significantly enhancing the state’s capabilities across sectors. The projects are expected to generate around 67,000 employment opportunities, fostering regional economic growth and boosting industrial activity. Besides, 15 investment intents were received. The total investment offers amount to Rs 1,03,090, creating employment opportunities for 95,915 persons,” informed the state government.
In a significant development, the state government has signed an MoU with Indian Oil Corporation Ltd (IOCL) for the establishment of a Dual-Feed Naphtha Cracker Project.
This landmark agreement is expected to bring in investments of over Rs 58,042 crore, generating employment for 24,000 people.
In addition to the MoU with IOCL, agreements were also signed with the Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG. These partnerships reinforce Odisha’s strategic role in India’s petrochemical landscape and reflect a commitment to sustainable industrial development, import substitution, and a resilient supply chain.
CM Majhi’s visit to New Delhi has been marked by strategic engagements and partnerships that are expected to accelerate economic growth and position Odisha as a formidable hub for industry, particularly in the petrochemical and technology sectors. These interactions demonstrated a significant investor interest in establishing manufacturing units that would contribute to local economic development and job creation.
Additionally, discussions with the Association of Indian Manufacturers of Medical Devices (AIMED), Toy Association of India, United States India Business Council, and others highlighted the growing interest in various sectors, including medical devices and apparel.
In his keynote address at the investors meet, the Chief Minister emphasised the vision of Odisha to emerge as a petrochemical and manufacturing hub.
He told the business leaders that this is the right time to invest in Odisha.
“Today’s MoU with Indian Oil Corporation Ltd. is a landmark moment in Odisha’s industrial journey. It reflects not just a shared vision but a strong belief in the state’s potential to lead India’s petrochemical revolution from the east. Paradip, with its strategic location and evolving infrastructure, is poised to become a transformative industrial hub, much like Dahej port in the west (Gujarat). Odisha is ready, and we invite you to invest in our bright future,” said Majhi.