Bhubaneswar, June 17: Odisha has reinforced its position as a leading investment destination in the country with the approval of 20 large-scale industrial projects worth ₹76,611.86 crore, expected to generate 50,517 employment opportunities across nine districts.
The approvals were granted during the 45th meeting of the High-Level Clearance Authority (HLCA), chaired by Chief Minister Mohan Charan Majhi. Marking the completion of two years of the present government, the Chief Minister said Odisha has emerged as a preferred investment hub due to progressive policies, improved ease of doing business, robust infrastructure, and proactive investor facilitation.
“Odisha is witnessing strong investor confidence, and these approvals reflect our commitment to employment generation, industrial expansion, and balanced regional development,” he said.
Diversified investment across key sectors
The approved projects span multiple high-growth sectors, including gemstone manufacturing, green energy equipment, aerospace and defence, rare earth mineral-based products, pharmaceuticals, capital goods, chemicals, steel, iron & ferro alloys, and power generation.
A major highlight of the HLCA approvals is Odisha’s emergence as a hub for lab-grown diamond manufacturing. Three companies—Kira Diam LLP, Anjali Labtech Limited, and Grow Magnificent Private Limited—will set up facilities in Khordha with a combined investment of ₹9,817.50 crore, creating around 8,100 jobs.
In the renewable energy equipment segment, significant investments were cleared in Ganjam district. Tata Power Renewable Energy Limited will establish a large-scale solar manufacturing facility with an investment of ₹10,000 crore, expected to generate 5,000 jobs. Similarly, Saatvik Solar Industries Private Limited will invest ₹1,709.81 crore in a solar PV cell manufacturing unit, creating 519 jobs.
Push in critical minerals and advanced manufacturing
Odisha also approved multiple projects in rare earth minerals and advanced materials. Larsen & Toubro Limited will invest ₹2,400 crore to set up a Sintered NdFeB permanent magnet facility in Ganjam, while N.A.N. Magnetech Private Limited will invest ₹1,250 crore in Khordha/Cuttack for EV-grade magnet production. World Titanium Industry Private Limited will also establish a titanium dioxide manufacturing unit in Ganjam with an investment of ₹2,800 crore.
In the broader manufacturing space, Ratnamani Metals and Tubes Limited will set up a specialty steel unit in Jajpur, and Jupiter Wagons Limited will establish a railway coach manufacturing facility, strengthening Odisha’s industrial ecosystem.
Strong growth in steel and heavy industries
The steel and ferro alloys sector accounted for a major share of investments. Rashmi Metallurgical Industry Private Limited will invest ₹15,000 crore in a 4 MTPA integrated steel plant in Jajpur, creating 11,000 jobs. Shyam Metalics and Energy Limited will also establish a 1 MTPA steel unit in Sambalpur with an investment of ₹7,580 crore.
Further expansions include projects by SMC Power Generation Limited in Jharsuguda, BR Steel & Power Private Limited in Sambalpur, and Orissa Alloy Steel Private Limited in Sundargarh, collectively strengthening Odisha’s position in heavy industry.
Energy and power sector expansion
In the energy sector, Rajapuspa Renova LLP will develop a pumped storage hydro project in Malkangiri with an investment of ₹5,220 crore. KU Urja Private Limited will invest ₹2,471.98 crore in a thermal power project in Jharsuguda.
Pharmaceuticals and chemicals
The pharmaceutical sector also saw major investment, with Nectar Lifesciences Limited proposing a ₹1,170 crore manufacturing unit in Sambalpur. In Rayagada, Singhal Steel & Power Private Limited will invest ₹1,300.57 crore in aluminium downstream products, creating 3,000 jobs.
Government’s vision for industrial growth
Reiterating the state’s long-term development roadmap, the Chief Minister said Odisha continues to attract investments across both traditional and emerging industries due to policy stability and infrastructure readiness.
He added that these projects will play a crucial role in employment generation, industrial diversification, and inclusive regional development.
The approvals align with the broader vision of ‘Viksit Bharat by 2047’ and Odisha’s goal of ‘Samruddha Odisha by 2036’, positioning the state as a major industrial growth engine in eastern India.
