Odisha clears Rs 44,241 crore investment proposals, move to generate over 8,700 jobs

OdishaChief Minister Mohan Charan Majhi on Saturday approved investment proposals worth Rs 44,241 crore covering 10 industrial projects in eight districts. 

The projects, cleared at the 44th meeting of the High-Level Clearance Authority (HLCA), are expected to generate employment for 8,765 people. Renewable energy and semiconductor ventures featured prominently among the approved proposals as reported by Times Of India.

A major portion of the approvals centred on renewable energy infrastructure, with four pumped-storage hydropower projects receiving the go-ahead. 

These include projects by Adani Hydro Energy Twelve Ltd with an investment of Rs 9,731.47 crore in Nayagarh; Sangamam CD Hydro Consortium proposing Rs 9,000 crore in Koraput; Greenko OR01 IREP Pvt Ltd committing Rs 7,506.94 crore in Kalahandi; and Jindal Green PSP Two Pvt Ltd planning Rs 3,711.56 crore in Deogarh.

In the semiconductor sector, ASP Semicon Private Ltd will establish a semiconductor memory chip modules manufacturing facility in Khordha with an investment of Rs 4,620 crore, creating 2,500 jobs.

Manufacturing Units To Boost Employment

Khordha will also host a Rs 1,050 crore integrated high-performance magnet manufacturing unit by Magnova Private Ltd, strengthening the state’s footprint in advanced materials and rare earth applications.

Bharat Forge Ltd has proposed a Rs 3,000 crore facility in Dhenkanal to manufacture automotive, aerospace and defence components, a project expected to provide 1,000 jobs.

In southern Odisha, NCL Industries Ltd will invest Rs 2,000 crore in Koraput, while Dalmia Cement (Bharat) Ltd will set up an integrated cement plant in Malkangiri with a matching Rs 2,000 crore investment. These two projects together are projected to create around 2,000 jobs.

Additionally, Shreetech Data Limited-CLS will invest Rs 1,622 crore to develop a cable landing station in Puri, aimed at strengthening telecom infrastructure along the eastern coast.