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Make in Odisha Conclave secures Rs 4.19 lakh cr of investment

Devdiscourse News Desk bhubaneswar Last Updated at 13-11-2018 22:29:55 IST India
Make in Odisha Conclave secures Rs 4.19 lakh cr of investment
  • (Image Credit: Twitter)

Odisha Chief Minister Naveen Patnaik on Tuesday said the state has secured investment intents worth over Rs 4.19 lakh crore at the second edition of the investors' meet.

"The total investment intents received by the state as a lead up to the event and during the event are to the tune of Rs 4,19,574 crore in the 15 diversified sectors with the potential to generate 5.91 lakh additional jobs for the people of Odisha," he said at the Make in Odisha Conclave.

He said the government will extend all necessary support and is committed to ensuring grounding of the investment proposals received at the event before the next summit in 2020.

The conclave saw tremendous response with 5,074 industry captains and delegates from India and abroad participating in the event, a state official said.

The second edition of the state's flagship summit received 183 investment proposals.

Elaborating further, Chopra said 37 proposals in fertiliser, chemicals and petrochemicals fetched an investment intent of Rs 1,35,309 crore.

There were 53 proposals in minerals, metals and downstream industries having a total investment intent of Rs 1,88,635 crore.

Besides, 6 proposals were received in industrial parks and 12 proposals in the logistics sector.

Among the major players, Haldia Petrochemicals proposed to invest Rs 70,000 crore for setting up the refinery and downstream industries in the state, said Industries secretary Sanjeev Chopra.

Jindal Steel and Power Limited proposed to infuse Rs 60,950 crore for its expansion of steel plant to 20 mtpa at Angul. Mahanadi Coalfields Ltd proposed to invest Rs 58,997 crore in the mining sector and a company from Taiwan proposed to pump in Rs 43,000 crore in petrochemical and chemicals sector, said, Chopra.

Steel Authority of India (SAIL) has proposed to expand its Rourkela steel plant with an investment of Rs 41,400 crore.

The conclave also received foreign direct investment from four countries including the Taiwan company. It received a proposal from the Dutch-based company for logistics and infrastructure, food processing from a Thailand-based company and Japan.

The foreign investors have requested not to reveal their names, said Chopra.

The next edition of the "Make in Odisha" will be held from November 30 to December 4, 2020.

In the last edition in 2016, the state bagged about Rs 2.03 lakh crore of investment intents.

(With inputs from agencies.)

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