Odisha bags investment commitments worth Rs 70,959 Cr

Odisha Sun Times Bureau
Bhubaneswar, Feb 19:

Odisha Investors’ Meet, organised on February 13 and 14, during the Make in India Week celebrated in Mumbai from February 13-18 received investment commitments worth Rs 70,959 crore.

As per information provided by the Chief Minister’s Office, while talks were held with 26 companies during the two days, 14 companies have sent formal investment proposals so far.

The companies have expressed interest for investment across a wide range of areas such as mines and minerals, food processing, hotel, solar energy, IT, electronics, manufacturing, textiles, automobile, waste management and smart city etc.

While Adani Group expressed interest to invest on an industrial park, an LNG terminal, an LPG facility and a solar power manufacturing plant, GMR Group announced an additional investment of Rs 1,800 crore in the state.  Mobile handset maker Lava International assured to visit Odisha soon to explore possibilities of a manufacturing unit while Panchavaktra Holdings committed to invest Rs 8,350 crore generating more than 2,000 jobs in the renewable energy sector.

Among international commitments, an Indonesian MNC committed an investment of Rs 5,000 crore across various sectors and US based Sanmina Corporation made an announcement to invest Rs 1,000 crore on an electronics manufacturing facility in the state.

Chief Minister Naveen Patnaik today reviewed the investment proposals in a high level review meeting at the Secretariat and asked the concerned departments to take necessary action immediately to expedite the investments. Besides, he also asked the officials to submit proposals for cabinet approvals if the need arises.