Odisha Approves Multibillion-Dollar Investments in Steel, Aluminium, and Green Energy Projects
Key Ideas
  • Odisha government approves investments worth Rs 1,65,303 crore for ten significant industrial projects across seven districts, creating 51,939 new jobs.
  • Major contributors like Vedanta, JSW Steel, and Orissa Thermal Energy leading investments in sectors including steel, aluminium, power generation, and green hydrogen.
  • Projects include a 6 MTPA alumina refinery, a greenfield 1.2 MTPA aluminium smelter, a 5 MTPA integrated steel plant, and a 2400 MW ultra-super critical coal-based thermal power plant.
  • The state of Odisha is focusing on becoming a premier investment destination and an emerging industrial powerhouse with a strong emphasis on both traditional and green energy sectors.
During the 40th High-Level Clearance Authority meeting in Bhubaneswar, the Odisha government approved investments worth Rs 1,65,303 crore for ten significant industrial projects spread across seven districts. These projects are set to create 51,939 new jobs and are a significant step towards enhancing the industrial landscape of the state. Major contributors like Vedanta, JSW Steel, and Orissa Thermal Energy are leading investments in sectors such as steel, aluminium, power generation, and green hydrogen. Vedanta Ltd is at the forefront of these investments with two major projects in Rayagada district, including a 6 MTPA alumina refinery and a greenfield 1.2 MTPA aluminium smelter, collectively generating 15,900 jobs. JSW Steel Limited is planning to establish a 5 MTPA integrated steel plant in Keonjhar with an investment of Rs 35,000 crore. Additionally, other significant projects in the steel sector include contributions from Shyam Steel Works and OCL Iron and Steel. The power sector is also seeing substantial investments, with Orissa Thermal Energy Limited committing Rs 18,450 crore to a 2400 MW ultra-super critical coal-based thermal power plant in Cuttack, which is expected to create 8,100 jobs. Moreover, the state is embracing green technology with investments in projects like Shreetech Data Limited's green hydrogen initiative and World Green Energy's solar manufacturing facility. The government's statement highlights that these investments are pivotal for Odisha's industrial growth. By emphasizing sustainable development, the state aims to position itself as a premier investment destination, focusing on both traditional and green energy sectors. This move signifies Odisha's emergence as a key industrial player in India's evolving economic landscape.
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