In addition to Muster, the state has received 15 investment intentions, pushing the total potential investment commitment to Rs 1,030,900 crore. If achieved, these proposals can generate up to 95,915 jobs, strengthening the emergence of Odisha as an ever-increasing industrial powerhouse in eastern India.
The highlight of the event was a landmark agreement between the Odisha government and the Indian Oil Company Limited (IOCL), which established a double-feeding naphtha biscuit project against Paradip. With an estimated investment of Rs 580,42 crore, the project is expected to create about 24,000 jobs and significantly enhance the state’s petrochemical infrastructure.
Together with India Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG, an additional MOUS was signed to strengthen India’s energy security and promote import substitution. These agreements also align with the broader goals of sustainable industrial development and resilient supply chains in the state.
Addressing investors at the meeting, Chief Minister Majhi outlined his government’s vision to transform Odisha into a center for petrochemical and manufacturing. “The Memorandum of Understanding used with IOCL is a decisive moment in our industrial journey,” he said. “With its strategic geographical location and growing infrastructure, Paradip is expected to be a transformative industrial node, just like Dahej in Gujarat.”
Majhi reaffirmed the state’s commitment to a business-friendly environment, assuring investors’ full support through infrastructure upgrades, regulatory reforms and industry-consistent skills development programs.
Under CM Majhi, Odisha is reimagining its industrial landscape with a focus on innovation, inclusive growth and strategic partnerships. New Delhi’s visit and investment commitment ensures signal-enhanced investor confidence and Odisha’s development becomes the preferred destination for large-scale industrial enterprises.
