You are here: Home » Economy & Policy » News
Business Standard

Greenfield investment promise at Make in Odisha summit could employ 230,000

Haldia Petrochemicals emerged as the biggest greenfield investor, pledging Rs 700 billion in fertiliser, refinery, petrochemicals, chemicals and plastics.

BS Reporter  |  Bhubaneswar 

Make in Odisha Conclave, Make in Odisha, Saudi Arabia, Italy, Germany, Saudi Arabia government , SABIC, 'Make in Odisha' summit, Government of Odisha, metal & mining, Special  Economic Zone, SEZ
CM Navin Patnaik with Natarajan Chandrasekaran Chairman, Tata Group. (Photo: @Naveen_Odisha)

The four-day conclave bagged 64 per cent of the 183 projects in greenfield and non-mineral projects that could employ 230,000 people, estimates show.

“It is encouraging to note that the majority of investment intents have been received for setting up new projects in non-mineral sectors which is a reflection of the tremendous opportunities Odisha provides across the focus sectors and validates the efficacy of investment promotion efforts by the state government,” said Sanjeev Chopra, principal secretary (industries), Odisha.

“While mining and metals have been the traditional mainstays of Odisha’s economy, the diversification of industrial base is critical for sustainable and employment-intensive industrial growth in the state,” said Chopra.

A sectoral break-up of the investment intents in the non-metals and minerals segment establishes that fertilisers, refineries, and petrochemicals top with 20 per cent share. Food processing, textiles and apparel, logistics and infrastructure follow with shares of 16.4 per cent, 9.3 per cent and 6.55 per cent respectively.

Haldia Petrochemicals emerged as the biggest greenfield investor, pledging Rs 700 billion in fertiliser, refinery, petrochemicals, chemicals and plastics. In the same sectors, a Taiwan-based investor has lined up Rs 430 billion.

Jindal Stainless Ltd (JSL) and Adani Group owned Dhamra Port Company Ltd (DPCL) have proposed industrial parks. A Japanese investor has announced Rs 20 billion investment intent in the agriculture and food processing sector. Defence manufacturing space has attracted an investment from Chivaro Aerospace & Systems Pvt Ltd valued at Rs 16.5 billion.

First Published: Mon, November 26 2018. 22:31 IST
RECOMMENDED FOR YOU