Bhubaneswar: Luxembourg-based VCL Group, a global leader in steel, glass, and energy, plans to set up a manufacturing unit in Odisha within the next two to three years.

The corporate office of VCL India Pvt. Ltd was inaugurated in the Odisha capital here today. The company is likely to expand its operations by setting up domestic facilities, including a unit in Odisha.

This development marks a significant milestone in Odisha’s FDI journey and reflects growing international confidence in the state’s investment potential. It also reinforces the success of the state government’s efforts to position Odisha as a preferred destination for high-value and future-ready industries, said an official.

“Odisha is taking bold strides towards becoming a leading hub for industrial growth and attracting Foreign Direct Investment (FDI). The state government’s focused and proactive approach—including global investor outreach, targeted roadshows, and strategic policy reforms—has created a business-friendly environment that continues to attract world-class investors,” he added.

With rich natural resources, a skilled talent pool, world-class industrial infrastructure, and progressive policies, Odisha offers an ideal environment for sectors like steel, energy, and advanced materials manufacturing. Its strategic location and investor-friendly governance make Bhubaneswar a natural choice for VCL’s India headquarters, said the state government in a statement.

The inauguration event was graced by dignitaries, including Peggy Frantzen, Ambassador of Luxembourg to India; Hemant Sharma, Additional Chief Secretary, Industries and I&PR Department; and Rajat Dalmia, Honorary Consul of Luxembourg in India.

Speaking on the occasion, Sharma said, “Odisha continues to establish itself as a preferred location for global investors, offering a stable business climate, progressive governance, and a thriving industrial base. The arrival of a reputed global player like VCL highlights this progress and reaffirms Odisha’s increasing appeal for high-value foreign investments. Such partnerships will bring innovation, generate employment, and significantly contribute to the state’s economic development.”

This development once again showcases the state government’s proactive and result-driven approach to industrial growth. With such initiatives, the state is rapidly emerging as a hub for advanced manufacturing and global collaboration in eastern India—moving steadily toward realizing the vision of Viksit Odisha by 2036, as envisioned by Chief Minister Mohan Charan Majhi, said the official.