Signed 54 MoUs involving proposed investment of ₹5 lakh crore: Odisha

Signed 54 MoUs involving proposed investment of ₹5 lakh crore: Odisha

Signed 54 MoUs involving proposed investment of ₹5 lakh crore: Odisha ByDebabrata Mohantry Jan 28, 2025 10:27 PM IST Share Via Copy Link State industries secretary Hemant Sharma said the Adani Group has topped the list with investment proposals worth ₹2.31 lakh crore

The Odisha government signed 54 memorandum of understanding (MoU) with a proposed investment exceeding ₹5 lakh crores with different companies on the first day of the investors’ meet, the state government said on Tuesday.

Prime Minister Narendra Modi with Odisha governor Hari Babu Kambhampati, Union ministers Dharmendra Pradhan and Ashwini Vaishnaw, and Odisha chief minister Mohan Charan Majhi during the 'Utkarsh Odisha' - Make in Odisha Conclave, in Bhubaneswar. (PMO/via PTI)

State industries secretary Hemant Sharma said the Adani Group has topped the list with investment proposals worth ₹2.31 lakh crore.The Group would invest in cement, power, alumina, smelter and industrial parks, he said.

Chief minister Mohan Charan Majhi held a meeting with Adani Ports & Special Economic Zone Ltd managing director Karan Adani on the sidelines of the ‘Utkarsh Odisha-Make in Odisha Conclave’ inaugurated by Prime Minister Narendra Modi.

Sajjan Jindal’s JSW Group also signed MoU worth ₹75,000 crore including one to set up a 5 million tonne per annum (MTPA) steel plant in Keonjhar district with an investment of ₹35,000-crore in partnership with Korean steelmaker Posco. In October last year, JSW Group signed a MoU with Posco..

Anil Agarwal’s Vedanta Limited also signed a MoU worth ₹1 lakh crore for a 3 MTPA aluminium plant and an aluminium park.

The Indian Oil Corporation also signed a MoU worth ₹70,000 crore that includes a ₹61,000 crore naphtha cracker project in Paradip and a yarn manufacturing project in Bhadrak.

Sajjan Jindal of Jindal Steel and Power announced that his group would Invest ₹70,000 crore that includes setting up a steel plant in Keonjhar district.

To be sure, not all investment proposals or MoUs signed by governments translate into real projects.