Odisha Attracts Investment Intent of over Rs 1 Lakh Crore, Eyes 95k Employment Opportunities

Odisha has attracted investment proposals worth Rs 98,000 crore from leading industries, particularly in the petrochemical and technology sectors, during chief minister Mohan Charan Majhi’s two-day visit to New Delhi. In a statement, the state government announced that the proposals will create nearly 67,000 jobs, enhancing the state’s petrochemical infrastructure and manufacturing capabilities.

Odisha signed a Memorandum of Understanding (MoU) with Indian Oil Corporation (IOCL) for the the establishment of a Dual-Feed Naphtha Cracker Project. This agreement is expected to bring in investments of over Rs 58,042 crore, generating employment for 24,000 people.

Overall, 13 MoUs along with 15 investments intent were received during the two-day Odisha Investors’ meet. The total investment proposals generated through these initiatives are amounting to Rs 1,03,090 crore, creating around 95,915 employment opportunities.

Calling the MoU with IOCL a "landmark moment," CM Majhi said, “ 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 in the west... Odisha is ready, and we invite you to invest in our bright future."

The state government also held discussions with Association of Indian Manufacturers of Medical Devices, Toy Association of India, United States India Business Council, and highlighted the growing interest in various sectors, including medical devices and apparel.

Majhi, who is on a tour to Delhi engaged in strategic engagements and partnerships with industries that are expected to accelerate economic growth and position Odisha as a formidable hub for industry, particularly in the petrochemical and technology sectors.

[With inputs from PTI]