Adani hydropower project among Odisha's Rs 44,200 cr industrial surge

The Odisha government has sanctioned 10 significant industrial projects amounting to Rs 44,200 crore, which include a pumped storage hydropower facility by the Adani Group and a semiconductor chip manufacturing unit, according to officials.

The approvals were issued during a meeting of the High-Level Clearance Authority (HLCA) presided over by the state‘s chief minister, Mohan Charan Majhi, on Saturday (February 21) evening.

Projects to generate jobs for more than 8,700

The initiatives are anticipated to create job opportunities for over 8,700 people across eight districts of Odisha, which include Khurda, Koraput, Kalahandi, Malkangiri, Dhenkanal, Puri, Nayagarh, and Deogarh, according to the officials.

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The initiatives span critical sectors such as rare-earth manufacturing, semiconductors, cement, automobile and auto-components, telecom infrastructure, and renewable energy, they added.

Majhi, who took over in 2024 as the coastal state’s first Bharatiya Janata Party, emphasised his government’s commitment to not just bringing investments, but ensuring their timely materialisation.

Projects will become reality in time, says CM

“Approvals must translate into construction and production within predictable timelines. Through coordinated action, we are strengthening institutional mechanisms to ensure seamless implementation,” he said.

In the semiconductor sector, ASP Semicon’s proposal to set up a Rs 4,620-crore semiconductor memory chip plant in Khurda received approval, while in the rare-earth segment, Magnova Private Ltd was granted permission for a Rs 1,050-crore high-performance magnet manufacturing facility in Khurda.

The automotive and aerospace sectors will see significant growth, too, with Bharat Forge Ltd investing Rs 3,000 crore in Dhenkanal to establish a manufacturing unit for aerospace and defence components, the officials said.

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Additionally, NCL Industries and Dalmia Cement (Bharat) Ltd have been granted approval to invest Rs 2,000 crore each in cement plants in Koraput and Malkangiri, respectively.

Besides, Adani Hydro Energy Twelve Ltd will invest Rs 9,731 crore in Nayagarh, while Jindal Green PSP Two Private Limited has been approved for an investment of Rs 3,711 crore in Deogarh for a pumped storage hydro power plant.

Sangamam CD Hydro Consortium will also invest Rs 9,000 crore in Koraput, while Greenko Private Ltd has proposed Rs 7,506 crore investment in Kalahandi.

The objective of these projects is to enhance the state's long-term energy security and to incorporate renewable energy into the grid, the officials said.

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In the telecom sector, Shreetech Data Ltd-CLS plans to establish a cable landing station in Puri with an investment of Rs 1,622 crore.

Odisha takes three-pronged ploy

The CM outlined a three-pronged approach to attract investments and reduce project turnaround times. He stressed targeted investor pursuit, ensuring speed and ease through a functional system, and empowering field-level mechanisms to resolve bottlenecks quickly.

“These focused and coordinated actions will ensure that Odisha remains the preferred destination for global capital,” Majhi said.

(With agency inputs)