Industry Odisha Bureau, Jun 12: The first two years of the Chief Minister Mohan Charan Majhi-led BJP Government in Odisha were no less than a Golden Era for Industries and investors.
The entire State machinery starting from the Chief Minister to District Collectors ensured all-round support for industries to grow. While the State-level team focused on bringing new investors to Odisha, other levels ensured proper grounding of the proposed projects.
The CM personally attended several roadshows in Indian cities like Mumbai, Ahmedabad, and Hyderabad, as well as abroad, and chaired one-on-one meetings, reflecting Odisha’s commitment to responsive governance and investor-centric engagement.
Achieving a major milestone, the State has received 433 investment proposals worth Rs 8.37 lakh crore during the past two years, of which 148 projects worth Rs 2.86 lakh crore have already been grounded, resulting a major boost in employment.
Odisha is positioning itself not just as a participant but as a key driver of the country’s next industrial decade. Through industrial corridors, logistics hubs, and Special Economic Zones (SEZs), the state is building integrated ecosystems that seamlessly connect manufacturing with global markets.
Odisha, which was known for its mineral resources that attracted metal industries in past, is now grounding projects representing a diverse range of high-impact sectors in thecluding Green Energy Equipment, Metal & Downstream Industries, Textile & Apparel, Plastics, Tourism, Agro& Food Processing, Defence Manufacturing, IT & ITES, Automobiles, Cement, and Capital Goods, reflecting the State’s rapidly evolving and diversified industrial ecosystem.
POSCO Back to Odisha
Twenty-one years ago, Odisha’s industrial landscape was set for a transformation when South Korean steel major POSCO signed an agreement with the then BJD Government to set up a 12MTPA integrated steel plant at Rs 51,000 crore, then India’s largest FDI proposal. However, the project could not be realized and in 2017, the company withdrew its project from Odisha due to delay in land acquisition and other issues.
Now, after the BJP Government came to power, due to CM Majhi’s personal interest, POSCO is back to the State. This time, it came to the state in collaboration with JSW Steel.
JSW Steel and POSCO have announced plans to set up an Integrated Steel Plant in Odisha’s Dhenkanal district with a capacity of 6 Million Tons per Annum (MTPA). The two firms have signed a Memorandum of Understanding (MoU) in this regard.
The proposed 6 MTPA integrated steel plant will come up in Dhenkanal with land for the project already secured.
Once completed, the facility will produce high-grade flat steel for automotive and other diverse sectors. This joint venture marks a step that strengthens India’s steel sector for the years ahead. The state government has already allotted around 900 acres, and unlike the earlier attempt, no major hurdles have surfaced so far.
ArcelorMittal too returned
Another major development is the progress made by ArcelorMittal Nippon Steel India (AMNS). ArcelorMittal, which had signed an MoU in 2006 for a 12 MTPA plant in Keonjhar, exited in 2013 due to land and raw material constraints, thus, bringing the curtains down on what was to be a defining moment in Odisha’s industrial narrative.
After BJP Government assumes charge, AMNS is back to Odisha. Land acquisition is underway for its proposed 14 MTPA steel plant (first phase) in Kendrapada.
Vedanata Announces Future Plan
Vedanta Group, which already has several businesses in the State, plans to invest another Rs 1 lakh crore. Vedanta’s investments include a 6 MTPA alumina refinery in Rayagada, a 3 MTPA aluminium smelter, and a 6,000 MW power plant in Dhenkanal, alongside a downstream aluminium park targeting EV, aerospace and defence sectors.
Land has been allotted for Vedanta’s key projects, while its coal block is slated for commissioning this year. Indian Railways also approved a link near the Sijimali bauxite mine.
Bhubaneswar–Cuttack–Puri–Paradeep Economic Region
The State Government with help from the Centre, decided to develop the Bhubaneswar–Cuttack–Puri–Paradeep Economic Region (BCPPER) to promote integrated, inclusive and sustainable economic growth of Odisha.
It aims at integrated, inclusive and sustainable economic growth through the convergence of infrastructure, sectoral development and governance reforms.
The Plan envisages transforming the region into a major economic growth hub with a target of becoming a US$ 500 billion economy by 2047. It adopts a convergence model through 90 identified projects, development zones, and policy reforms aligned across departments.
Semiconductor Hub
In a major move to make Odisha a semiconductor hub of India, the foundation stone for India’s first Advanced 3D Glass Chip Packaging Unit was laid this year at Infovalley.
The project was approved by the Union Government with an outlay of approximately Rs 1,943 crore. It will generate around 2,500 direct and indirect jobs with an annual production capacity of 50 million assembled units.
The project marks the arrival of the world’s most advanced chip packaging technology in India, firmly placing Odisha at the forefront of next-generation semiconductor innovation.
The chips to be produced in Odisha will serve key sectors including aerospace, defence, artificial intelligence, 5G technologies and Data Centres.
This milestone further strengthens Odisha’s semiconductor ecosystem, making it the first state in India to host both a compound semiconductor fabrication unit and an advanced 3D chip packaging facility based on Glass Substrates.
The above initiative underscores the Government of Odisha’s commitment to fostering high-tech industries, attracting global investments, and creating a robust innovation-driven economy aligned with the vision of Atmanirbhar Bharat.
