Odisha gets ₹21,000-cr worth investment proposals at Dubai investor summit

Odisha on Wednesday (July 20) received investment proposals worth over ₹21,000 crore at an investors summit in Dubai, as per an official statement.

The Dubai Investors Meet inaugurated by Chief Minister Naveen Patnaik, saw the participation of around 150 companies from the Middle East and North Africa, it said.

“Investment intents worth more than ₹21,000 crore which have employment potential of more than 19,000 were received by the state across sectors such as infrastructure, hospitality, logistics, chemicals, food processing,” the statement said.

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Patnaik invited potential investors to visit the state and assured unmatched facilitation and support. The chief minister announced that the state would be hosting the third edition of the Make In Odisha summit from November 30 to December 4 in Bhubaneswar.

Patnaik said that Odisha attracted investments worth USD 50 billion during the last two years despite the pandemic. The state is an attractive destination for Foreign Direct Investment (FDI) in sectors such as metals, chemicals and petrochemicals, textiles and apparel, food processing and clean energy, he said.

The Dubai meet was jointly organized by the Odisha government, FICCI and the Embassy of India in UAE. The Lulu Group proposed to invest ₹500 crore in the state to build a luxury hotel focused on wellness, Patnaik later tweeted.

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Sobha Realty expressed intent to invest ₹5,000 crore in metals, metallurgy and the hospitality sector in Odisha, he added.

Glad to meet Shri PNC Menon, Chairman of @SobhaLtd at #OdishaInvestorsMeet in Dubai. Sobha Realty has expressed intent to invest ₹ 5,000 Cr in Metals, Metallurgy and Hospitality sector in #Odisha. Assured all support for faster grounding of projects. #MakeInOdishaDubai pic.twitter.com/i1DnVB4XEH

— Naveen Patnaik (@Naveen_Odisha) June 29, 2022

Besides, the NBTC Group of Kuwait proposed to invest ₹5,000 crore for a urea plant in Odisha and the UAE-based Tabreed Group expressed intent to invest ₹1,000 crore for setting up an information and communications technology campus in Bhubaneswar, the chief minister said. The Sharaf Group also showed interest to invest in the states logistics sector, he said.

(With inputs from agencies)