High-Level Clearance Authority (HLCA) of Odisha, on March 28, 2025, sanctioned the investment proposal of a total INR 1,65,303 crore (USD 19.35 billion) under Chief Minister Mohan Majhi's chairmanship in a bid to boost the state's overall industrial landscape.
The investment shall stretch across different sectors, including aluminium, green energy equipment, steel, green hydrogen, power generation and engineering goods. It has been put forward that a total of 51,939 job possibilities can be witnessed after the completion of these projects. Moreover, the investing projects will be majorly done in 7 different districts of Odisha, including Cuttack, Keonjhar, Mayurbhanj, Bhadrak, Ganjam, Rayagada and Khurda.
The majority of the investment will be brought by Vedanta Group, an Indian multinational mining company worth INR 91,528 crore (USD 10.71 billion) to conduct two major projects in Rayagada, Odisha. Project 1 alone holds an investment of INR 50,537 crore (USD 5.92 billion), intending to set up 6 MTPA (Million Tonnes Per Annum) alumina refinery.
On the other hand, Project 2 holds an investment of INR 40,991 crore (USD 4.80 billion) to set up a 1.2 MTPA aluminium smelter with this investment. Both projects are envisioned to create a total of 15,900 jobs within the region, empowering the leading players of the overall aluminium industry.
Other investments would be pooled from major leaders of diverse sectors, including JSW Steel, OCL Iron and Steel Limited, Shyam Steel Works Private Limited and Orissa Thermal Energy Limited. The cumulative of all these investments amount to INR 69,650 crore (USD 8.15 billion) benefiting the power sector as well.
These significant investments from major industrial companies shall contribute towards setting up over 7 MTPA-integrated steel plants. This results in increased steel production capabilities, and increased job opportunities and paves the way for Odisha to emerge as a leading steel-producing state.
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