Odisha Chief Minister Mohan Charan Majhi spearheaded a significant push for industrial growth at the two-day Delhi Investors’ Meet, where the state signed 13 Memoranda of Understanding (MOUs) with various industry leaders.
The agreements, formalized in the presence of the Chief Minister, are set to bring in investments worth Rs 1,03,090 crore and create around 95,915 job opportunities in the state.
A highlight of the event was the MOU signed with Indian Oil Corporation Limited (IOCL) for a dual-feed naphtha cracker project in Paradip. This ambitious project alone is expected to attract an investment of Rs 58,042 crore and generate 24,000 direct and indirect jobs. The naphtha cracker project aligns with Odisha’s broader vision to strengthen its petrochemical sector, building on earlier commitments like the Rs 61,000 crore investment announced by IOCL in December 2024 for the same initiative, set to be formalized at the upcoming ‘Utkarsh Odisha Make in Odisha 2025’ summit.
In addition to the IOCL agreement, MOUs were also signed with ISPR and Petronet LNG, further diversifying Odisha’s industrial portfolio. These partnerships are expected to bolster the state’s infrastructure in the petrochemical and energy sectors, contributing to the government’s goal of creating a robust industrial ecosystem in eastern India under the ‘Purvodaya’ vision.
Speaking at the event, Chief Minister Majhi emphasized his administration’s commitment to transforming Odisha into an industrial hub. “Our vision is to attract significant investments, create jobs, and ensure sustainable economic growth for the people of Odisha,” he said, echoing sentiments from his earlier address at the Confederation of Indian Industry (CII) session in January 2025. Majhi’s government has adopted a three-pronged strategy focusing on industrial development, employment generation, and a business-friendly ecosystem, as part of its broader economic agenda.
The Delhi Investors’ Meet follows a series of proactive steps by the Odisha government to attract investment. In its first 100 days, the Majhi-led administration approved investment proposals worth Rs 44,682 crore, targeting sectors like petrochemicals, plastics, and infrastructure. The state is also developing a Plastic Park in the PCPIR region at IOCL’s refinery complex in Paradip, with an investment of Rs 106 crore, and is in the process of identifying new anchor tenants for petrochemical cracker units.
The MOUs signed at the Delhi meet are a testament to Odisha’s growing appeal as an investment destination. With the state government projecting around 95,915 new jobs, these initiatives are poised to significantly boost employment and economic development. CM Majhi is expected to return to Bhubaneswar on April 9, following the conclusion of the event.
The Odisha government’s efforts are part of a larger strategy to position the state as a leader in India’s industrial resurgence, particularly in the eastern region. With key projects like the naphtha cracker and upcoming developments such as the Special Investment Region near Dhamra port, Odisha is steadily carving out a space for itself on the national industrial map.
CM Mohan Majhi, PNG Minister Hardeep Singh Puri, education minister Dharmendra Pradhan & Minister Jual Oram were present on the occasion along with other dignitaries.
