Bhubaneswar: Odisha government Tuesday signed 54 MoUs with a host of companies, which promised an investment commitment of Rs 4.50 lakh crore in the state, a senior official said.
The agreements were inked on the first day of ‘Utkarsh Odisha-Make in Odisha Conclave’ in Bhubaneswar.
Additional Chief Secretary (ACS), Industries Department, Hemant Sharma said the Adani Group has committed to invest the highest amount of Rs 2.28 lakh crore, while the Vedanta Group would invest around Rs 1 lakh crore. The Sajjan Jindal-led JSW Group will invest Rs 35,000 crore to set up a steel plant in Keonjhar district.
Besides, the Naveen Jindal-owned Jindal Steel & Power also announced to invest an additional Rs 70,000 in its Angul plant, but it was not realised as an MoU Tuesday, he told reporters here.
The Avaada Group, a renewable energy company, signed an MoU with the state government to invest Rs 20,700 crore in green energy projects, including floating solar and pumped storage, said Vineet Mittal, chairman of the firm.
Odisha received a total investment intent of Rs 20,900 crore in IT/ITeS, electronics, semiconductors, data centres and ancillary sectors. These investments are expected to give a significant boost to its economic growth and ensure balanced regional development, officials said.
MD of Kaynes Technology Ramesh Kannan said the company plans to invest Rs 1,500 crore in the state in the PCB and bare board making sector.
During the day, Chief Minister Mohan Charan Majhi also inaugurated the virtual foundation laying ceremony of SiCSem Private Ltd’s upcoming semiconductor project in the state.
The company is setting up a 15-acre silicon carbide semiconductor power devices manufacturing and ATMP facility at Infovalley, Bhubaneswar.
Attending the inaugural session, Union Minister for Electronics & IT, Ashwini Vaishnaw, said, “The success of our semiconductor mission has enthused the world. We approved all five projects under the India Semiconductor Mission in less than 90 days each.”
“Now, the entire world believes that India will be a major semiconductor destination. Odisha, which has some of the brightest young people in India, will play a significant role in this process,” he said.
State IT Minister Mukesh Mahaling said Odisha aims at becoming a $500 billion economy by 2036 and a $1.5 trillion economy by 2047.
“We have planned a series of initiatives to turn this vision into reality, including setting up dedicated Tech Business Parks in tier-2 and tier-3 cities, IT clusters, GCC Parks, an integrated FinTech cluster and a network of data centers,” he said.
Speaking on the occasion, Romal Shetty, CEO, Deloitte South Asia, said, “Based on our experience in Odisha, I can confidently say that the government operates at an exceptional pace.”
PTI