Odisha Signs MoUs Worth Rs 98,880 Cr, Promises 67,000 Jobs

Bhubaneswar, Apr 9 (KNN) In a major push to industrial growth, the Odisha government on Tuesday signed 13 high-value Memoranda of Understanding (MoUs) with leading companies, securing investments worth Rs 98,880 crore.

These agreements are expected to generate over 67,000 employment opportunities in the state.

The MoUs were signed during the two-day Odisha Investors’ Meet held in New Delhi, where the state also received 15 investment intents, taking the total proposed investment to Rs 1,03,090 crore. These proposals promise job opportunities for nearly 95,915 people.

Chief Minister Mohan Charan Majhi, who led the state’s investment drive, held extensive discussions with top industry leaders.

The most significant outcome was a Rs 58,042 crore deal with Indian Oil Corporation Ltd (IOCL) for setting up a dual-feed naphtha cracker plant at Paradip in Jagatsinghpur district.

Other key agreements include a crude oil storage facility by Indian Strategic Petroleum Reserves Ltd (ISPRL) at Chandikhol in Jajpur district and an LNG terminal at Gopalpur in Ganjam district by Petronet LNG.

Union ministers Hardeep Singh Puri, Dharmendra Pradhan, Jual Oram, and Odisha Industries Minister Sampad Chandra Swain were present during the MoU signings.

Highlighting Paradip’s potential to become a petrochemical hub akin to Dahej in Gujarat, CM Majhi said, “The MoU with IOCL is a landmark moment for Odisha’s industrial growth.” He assured investors of robust infrastructure, ease of doing business, and skilled manpower to support their ventures.

“This is the right time to be in Odisha. We are ready and we invite you to invest in our bright future,” he added.

The agreements mark a significant step in Odisha’s vision to become an industrial powerhouse in eastern India.

(KNN Bureau)