Home / Industry / Manufacturing /  Vedanta, Adani, JSW Group, Tata Steel vow massive investments in Odisha. 10 points

The Odisha government said it has so far received 145 investment proposals worth over 7.26 lakh crore in the current edition of the business summit. The Naveen Patnaik government signed 21 MoUs with various companies on the second day of the 'Make In Odisha' Conclave 2022 on Thursday.

1) The JSW Group alone committed an investment of 1 lakh crore in the state.

2) "Today, we make a commitment to invest another 1 lakh crore in the state in various sectors," JSW Group Chairman Sajjan Jindal said on Thursday while addressing the conclave

3) Adani Ports and SEZ Ltd Chief Executive Officer Karan Adani said the company has invested 7,600 crore in Odisha and the planned capital investment will exceed 60,000 crore over the next ten years.

4) “Our investments in the state continue to accelerate and in the last five years, the Adani Group has already put in 7,600 crore as we have gone about developing LNG terminals, the Dhamra port and our mining activities," he said.

5) Vedanta Ltd Chairman Anil Agarwal said his company is the biggest investor in Odisha by pumping in 80,000 crore and set to invest another 25,000 crore in proposed aluminium park at Jharsuguda.

6) Addressing the plenary session of the conclave, ArcelorMittal Executive Chairman Lakshmi Niwas Mittal said, "In a JV (joint venture) with Nippon Steel, we are setting up a 24-million tonne plant in Odisha."

7) Tata Steel Ltd CEO and MD TV Narendran said the company has already set up a greenfield steel mill at Kalinga Nagar and acquired Bhusan Steel Plant at Meramundali and NINL. "The company has become the highest steel producer in Odisha. We already have a production capacity of eight million tonne in the state and in this fiscal, we are planning to double the capacity," he said.

8) Essar Capital Director Prashant Ruia outlined the company’s investment plans for setting up several projects worth 52,000 crore.

9) The third edition of the business summit was attended by representatives of different corporate houses such as LN Mittal, Anil Agarwal, Sajjan Jindal, TV Narendran, Naveen Jindal, Karan Adani, Praveer Sinha and delegates from 11 countries.

10) Chief Minister Naveen Patnaik has already assured the investors of all support for setting up their projects.

-With inputs from agencies

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout