Various industry leaders have promised to invest heavily in the state

‘Make in Odisha Conclave 2022’ in Bhubaneswar, an investor summit made waves with many industry leaders pledging massive investments in the state during the event.

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  1. The Odisha government says the current edition of the business summit has resulted in 145 investment offers worth over Rs 7.26 lakh crore. According to Hemant Sharma, Odisha Industrial Secretary, if the investment plan is worth Rs. 7,26,128.45 crore is done, more than 3.20 lakh people will have access to jobs.

  2. Representatives from several corporate houses, including LN Mittal, Anil Agarwal, Sajjan Jindal, TV Narendran, Naveen Jindal, Karan Adani, and Praveer Sinha, as well as delegates from 11 countries, attended the third edition of the business summit.

  3. The Adani Group, led by Asia’s richest man Gautam Adani, will invest Rs 60,000 crore ($7.39 billion) over the next ten years in the mineral-rich state of Odisha, a top executive said.

  4. “Our ongoing commitment to Odisha is shown in our planned capital investment which will exceed Rs 60,000 crore over the next ten years. I anticipate this will create tens of thousands of jobs directly and indirectly,” said Karan Adani, Chief Executive Officer of Adani Ports and Regions. Special Economics.

  5. JSW Group alone invested Rs 1 lakh crore in the state, said an official.

  6. According to Tata Steel TV MD & CEO Narendran, the company will continue to invest in Odisha, which has 25 per cent of all India’s steel manufacturing capacity and has received investments of over Rs 75,000 crore. “The Tata group of companies, and in particular Tata Steel, have invested more than Rs 75,000 crore in Odisha in the past five years. We will continue to invest to support growth in Odisha,” said Mr Narendran.

  7. ArcelorMittal Chief Executive Lakshmi Niwas Mittal announced during the conclave plenary session its 24 million tonnes facility in Odisha in a JV (joint venture) with Nippon Steel.

  8. Anil Agarwal, Chairman of Vedanta Ltd, said that his company is the largest investor in Odisha with a total investment of Rs 80,000 crore and plans to add another Rs 25,000 crore to the proposed Jharsuguda aluminum park.

  9. According to Essar Capital Director Prashant Ruia, the business will invest around Rs 52,000 crore in Odisha to build a number of projects, including a 14 MT pellet plant and a 7.5 MT crude oil to petrochemical unit.

  10. According to him, the company is trying to establish CTC in collaboration with international players. Mr Ruia added that his company made heavy investments in Odisha in the energy, mining and metals sectors. He claims that Odisha is experiencing double digit growth and tremendous industrial and social development.

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