The Odisha government has approved 20 mega investment proposals with a cumulative investment value of INR 76,612 crore, reinforcing the state's position as a major destination for industrial and infrastructure development. The projects were cleared at a meeting of the High-Level Clearance Authority (HLCA) chaired by Chief Minister Mohan Charan Majhi on Wednesday. 
According to the state government, the approved projects are expected to generate employment opportunities for more than 500,000 people and span a wide range of sectors, including gemstone manufacturing, green energy equipment, aerospace and defence, pharmaceuticals, chemicals, steel, iron and ferro alloys, capital goods manufacturing, renewable energy and rare earth mineral-based industries. 
Among the largest investments approved are three lab-grown diamond manufacturing facilities proposed by Kira Diam LLP, Anjali Labtech Limited and Grow Magnificent Private Limited in Khordha district. Together, these projects involve an investment of INR 9,817.50 crore and are expected to create around 8,100 jobs. The state government believes these investments will strengthen Odisha’s emerging position in the gemstone manufacturing sector. 
In the green energy and advanced manufacturing segment, Tata Power Renewable Energy Limited received approval to establish an ingot, wafer and solar photovoltaic cell manufacturing facility in Ganjam district with an investment of INR 10,000 crore. Saatvik Solar Industries Private Limited will also establish a solar photovoltaic cell manufacturing unit in the district with an investment of INR 1,709.81 crore. 
The state has also attracted investments in strategic materials and rare earth manufacturing. N.A.N. Magnetech Private Limited plans to invest INR 1,250 crore in a high-performance electric vehicle-grade neodymium iron boron (NdFeB) magnet manufacturing facility in Khordha or Cuttack, while Larsen & Toubro Limited will invest INR 2,400 crore in a sintered NdFeB permanent magnet manufacturing unit in Ganjam. Additionally, World Titanium Industry Private Limited will establish a titanium dioxide slag and titanium dioxide pigment manufacturing facility in Ganjam with an investment of INR 2,800 crore. 
In the manufacturing and pharmaceutical sectors, Ratnamani Metals and Tubes Limited has proposed an integrated speciality steel manufacturing unit in Jajpur with an investment of INR 1,642 crore. Nectar Lifesciences Limited will invest INR 1,170 crore in a pharmaceutical manufacturing facility in Sambalpur, while Jupiter Wagons Limited plans to establish a railway coach manufacturing facility in Jajpur with an investment of INR 1,500 crore. 
The steel, iron and ferro alloys sector accounted for the largest share of investments. Rashmi Metallurgical Industry Private Limited received approval to establish a 4 MTPA integrated steel plant in Jajpur with an investment of INR 15,000 crore. Shyam Metalics and Energy Limited will invest INR 7,580 crore in a 1 MTPA integrated steel manufacturing facility in Sambalpur. 
Further approvals include INR 5,350 crore and INR 3,800 crore expansion projects by SMC Power Generation Limited at Badmal and Hirma respectively in Jharsuguda. BR Steel & Power Private Limited will establish a 1.2 MTPA integrated steel plant in Sambalpur with an investment of INR 2,400 crore, while Orissa Alloy Steel Private Limited will invest INR 1,200 crore in an iron ore beneficiation plant in Sundargarh. 
In the power and renewable energy sector, Rajapuspa Renova LLP received approval for a pumped storage hydropower project in Malkangiri involving an investment of INR 5,220 crore and expected employment generation of 500 people. KU Urja Private Limited will establish a coal-based thermal power plant in Jharsuguda with an investment of INR 2,471.98 crore. 
The chemical sector also attracted fresh investment, with Singhal Steel & Power Private Limited proposing an aluminium downstream products manufacturing facility in Rayagada at an investment of INR 1,300.57 crore. 
Commenting on the approvals, Chief Minister Mohan Charan Majhi stated that Odisha’s policy framework, infrastructure development and focus on ease of doing business continue to attract investments across both established and emerging industries. He noted that the approved projects would contribute to employment generation, industrial diversification and broader economic growth across the state. 
Source - PTI