Bhubaneswar: The Odisha government Tuesday signed 13 MoUs including IOCL’s Dual-Feed Naphtha Cracker Project and received 15 other proposals worth a total investment of Rs 1.03 lakh crore, which will create employment for over 95,000 people, an official release said here.
The MoUs were signed in an investors meet held at New Delhi in the presence of Odisha Chief Minister Mohan Charan Majhi, Union Ministers Dharmendra Pradhan, Jual Oram and Hardeep Singh Puri.
Overall, 13 MoUs were signed amounting to Rs 98,880 crore, significantly enhancing the state’s capabilities across sectors. The projects are expected to generate around 67,000 employment opportunities, fostering regional economic growth and boosting industrial activity, the release said.
Apart from MoUs, the state also received as many as 15 investment intents worth a total investment of Rs 1,03,090 crore creating employment opportunities for 95,915 persons.
Among the 13 MoUs, the most significant one was the agreement between the state government and the Indian Oil Corporation Ltd (IOCL) for the establishment of a Dual-Feed Naphtha Cracker Project. This agreement is expected to bring in investments of over Rs 58,042 crore generating employment for 24,000 people.
In addition to the MoU with IOCL, agreements were also signed with the Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG. These partnerships reinforce Odisha’s strategic role in India’s petrochemical landscape and reflect a commitment to sustainable industrial development, import substitution, and a resilient supply chain, it said.
Majhi, who is on a tour to Delhi engaged in strategic engagements and partnerships with industries that are expected to accelerate economic growth and position Odisha as a formidable hub for industry, particularly in the petrochemical and technology sectors.
In his keynote address at the investors meet, Majhi highlighted Odisha’s aim of emerging as a petrochemical and manufacturing hub. “The MoU with Indian Oil Corporation Limited is a landmark moment in Odisha’s industrial journey. It reflects not just a shared vision but a strong belief in the state’s potential to lead India’s petrochemical revolution from the east,” Majhi said.
Majhi said that Paradip, with its strategic location and evolving infrastructure, is poised to become a transformative industrial hub—much like Dahej port in the west (Gujarat). “Odisha is ready, and we invite you (investors) to invest in Odisha. ‘Yahi Samay Hai, Sahi Samay Hai’ (This is the right time to invest),” the chief minister said.
The state government also held discussions with Association of Indian Manufacturers of Medical Devices (AIMED), Toy Association of India, United States India Business Council, and highlighted the growing interest in various sectors, including medical devices and apparel.
