Chile’s HIF Global Eyes $1 Billion Investment in Odisha’s Methanol Project

Bhubaneswar: In a major boost to Odisha’s renewable energy ambitions, Chile-based e-fuel company HIF Global has expressed interest in investing around USD 1 billion in a methanol synthesis project in the state. The proposal was presented before Odisha Deputy Chief Minister K V Singh Deo, who oversees the energy and agriculture sectors.

According to an official statement, HIF Global has requested the allocation of 50 acres of land along with a steady supply of water and electricity to support the project. “We are ready to provide all kinds of facilities as per the government guidelines. We have an investment-friendly, single-window clearance system,” Singh Deo remarked, underscoring Odisha’s commitment to creating a conducive environment for industrial investments.

The proposed project is expected to generate substantial employment opportunities, with over 250 jobs anticipated during its operational phase and more than 500 additional positions in the functional phase. If implemented, this investment is set to significantly enhance the state’s renewable energy portfolio and contribute to regional economic growth.