Bhubaneswar/Abu Dhabi, Sept 10: Odisha has stepped up its global investment outreach during Chief Minister Mohan Charan Majhi’s UAE visit, with the state government signing agreements with Abu Dhabi-based International Holding Company (IHC) and the Adani Group to explore 14 new projects involving an estimated investment of ₹2,10,500 crore.
The proposed projects have the potential to generate around 8.68 lakh employment opportunities, according to the state government. The investment proposals span sectors including metal downstream industries, slurry pipelines, critical minerals and rare earths, chemicals and petrochemical derivatives, renewable energy equipment, healthcare, industrial infrastructure, tourism, skill development and sports infrastructure.
The development comes as Majhi leads Odisha’s investment outreach in the UAE from September 8 to 12, aimed at attracting global capital and strengthening trade and business ties.
Integrated Aluminium Project Gains Momentum
A major focus of the discussions was the proposed integrated greenfield aluminium project being developed through a partnership between Adani Enterprises and IHC group company International Resources Holding (IRH).
The project, announced in July, involves a proposed investment of $11.5 billion and includes an alumina refinery, aluminium smelter and downstream manufacturing facilities.
During the UAE meetings, Odisha proposed land in Kalyansinghpur tehsil of Rayagada district for the alumina refinery and in Sundargarh Sadar tehsil for the aluminium smelter, further advancing the site-selection process.
Odisha-UAE Trade Ties Get Fresh Push
Majhi also met representatives of the Indian Business and Professional Group (IBPG) in the UAE. A Memorandum of Cooperation was signed to promote trade and investment between Odisha and UAE-based businesses.
Discussions focused on expanding exports of Odisha products such as turmeric, ginger and seafood, besides exploring contract manufacturing opportunities for UAE brands and creating opportunities for Odisha’s skilled workforce.
Borouge Invited for Petrochemical Project
The Chief Minister also held discussions with Borouge, a major petrochemical company, and invited the company to explore setting up a large downstream petrochemical complex in Odisha.
The proposed facility could leverage feedstock from Indian Oil Corporation’s planned naphtha cracker project at Paradip, creating opportunities for greater value addition in Odisha’s petrochemical sector.
UAE Investors Explored Infrastructure Opportunities
At another investor roundtable, Majhi pitched Odisha’s infrastructure projects for development under the public-private partnership (PPP) model.
The discussions covered potential institutional participation, project evaluation and long-term investment opportunities in infrastructure, including the state’s port and other major development projects.
The series of meetings marked a significant expansion of Odisha’s engagement with UAE-based investors and business groups, with the state seeking to convert investment discussions into projects across manufacturing, infrastructure, energy, healthcare, tourism and emerging sectors.
