Odisha attracts Rs 90,000 Cr investment at Bangalore investors’ meet

Odisha Sun Times Bureau
Bangalore, Aug 26: 

Odisha Government held discussions with at least 66 companies and has attracted investment as much as Rs 90,490 crore in the two-day investors’ meet organised in Bengaluru that came to an end today.

“We are overwhelmed by the response that we have received for the Odisha Investors’ Meet. During the two days, our state delegation met 66 top companies in 13 diverse sectors. I personally met heads of 24 companies today,” said Odisha Chief Minister Naveen Patnaik speaking to reporters after the event.

“We also organised the investment seminar where we launched the Start-Up Policy for the state. We are looking to set up 1,000 new start-ups in the state over the next five years. We also launched the action plan for the development of 5 focus sectors in the state over the next decade. We also launched the master plan for Info-valley, where we are creating a world class IT and ESDM manufacturing facility.”

“We have received a total investment announcement of Rs 90,490 crore during the two days with employment potential of more than 70,000. We are organizing Make in Odisha conclave on December 1-2 this year at Bhubaneswar,” he added.

According to JSW Steel CMD Sajjan Jindal, his company has evinced interest in investing Rs 50,000 crore to set up a 10 MT steel plant in the state.

Chennai-based PSU NLC India Ltd yesterday announced that it will invest about Rs 25,000 crore on a thermal power plant, solar power plant and a coal mining processing plant in the state. Besides, another PSU BEL has expressed interest to invest about Rs 2,000 crore in a solar plant in Odisha.

Notably, the State Government is currently working on dedicated sectoral policies for Auto & Auto Components, Healthcare & Pharmaceutical, Plastics, Chemicals and Petrochemicals, Renewable Energy and Textiles & Apparel.

The government has plans to promote employment intensive sectors and it will launch sectoral policies for these sectors before end of this year, said Patnaik addressing the investors’ meet today.

Apart from investor friendly policies, the government is also working towards facilitating industrial infrastructure facilities for the investors. In addition to the Infovalley, the government is developing large investment regions in the form of National Investment & Manufacturing Zone (NIMZ) at Kalinganagar and a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Paradip.