Steel giants commit ₹1,42,000 cr investment in Odisha

    Steel giants
    During the first day of Odisha government’s flagship investment summit in Bhubaneswar, named as Make in Odisha (MIO), steel manufacturing giants have committed a staggering investment worth ₹1,42,000 crore. Already the state has investments worth ₹75,000 crore and with the announcement of Kalinga Nagar (Tata Steel plant) expansion, another ₹25,000 crore. Chairman of Jindal Steel and Power Naveen Jindal said that the company is going to take its 6 million tons steel plant capacity to 20 million tons of its steel plant at an estimated investment of about over ₹45,000 crore. It plans to invest in a large green field steel plant, which would probably be the most modern steel plant in the world. The state CM highlighted the state’s focus on “port-led development” reiterating that the government is planning a number of ports, including deep water ports in Subarnarekha and Gopalpur, a riverine port on Mahanadi River, 12 other non-major ports, apart from Paradeep and Dhamra. The state also secures investment pledges in sectors, apart from minerals and steel. Chairman of the Aditya Birla Group Kumar Mangalam Birla recalled that the state remains one of our top most investment destinations in the country and it expects to invest over $2 billion here in the next two years.
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