Odisha investment conclave fetches ₹4.20 lakh-cr commitments

    Make in Odisha
    In the recently concluded Make in Odisha Summit, the state government has received investment proposals worth ₹4,20,000 crore, state CM said, detailing that the investment intent is more than double of what the State government received in the first edition 2016 as the conclave saw 183 investment commitments coming in from 15 sectors, mostly manufacturing industries. Being a mining belt and rich in natural resources, most investment proposals came from minerals, metals and downstream companies. Investment commitments of around ₹2,36,000 crore came from this segment. The major commitments, among others, include ₹41,000 crore for the expansion plan of SAIL’s Rourkela Steel Plant; around ₹38,000 crore from NALCO; ₹10,000 crore investment from Tata Steel; and ₹14,500 crore committed by Aditya Birla Group. While Jindal Steel and Power has proposed ₹61,000 crore investment for the expansion of its steel plant to 20 mtpa at Angul and Mahanadi Coalfields proposes to invest ₹59,000 crore in mining sector. Odisha Industries Secretary, Sanjeev Chopra claimed that 37 proposals were in fertilizer, chemicals and petrochemicals as these segment secured an investment commitment worth 1,35,309 crore where the primary investors included Haldia Petrochemicals that committed to an investment of ₹70,000 crore, while Indian Oil Corporation (IOCL) plans to invest over ₹10,000 crore. As many as six proposals worth ₹8,432 crore, and 12 investment proposals in the logistics sector totaling to ₹8,000 crore received in the industrial parks segment.
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