Make in Odisha Conclave attracts investment worth Rs.4.19 lakh crore

The Make in Odisha Conclave 2018 has concluded with a big success, garnered investment proposal worth Rs. 4.19 lakh crore. Industry majors like Reliance’s Mukesh Amabani, Kumar Mangal Birla of Aditya Birla Group, Anil Agarwal of Vedanta Resources, Jindal Brothers and others were made big investment commitments.

In the manufacturing sector, Naveen Jindal of JSPL promised to invest Rs. 55,000 crore in its steel expansion project at Angul from existing 6 million tonne per annum (million tpa) to 20 million tpa. Kumar Managalam Birla committed an investment of $2 billion (approximately Rs. 15,000 crore at current exchange) over the next two years in group outfits like Ultratech, Hindalco, Vodafone-Idea, Aditya Birla Capital and others in the State.

Tata Group Chairman N Chandrasekaran assured of its Rs. 25,000-crore phase-II expansion of the Kalinganagar steel unit. The ground breaking ceremony of the Phase-II project has unveiled. Tatas will also ramp up presence of TCS in Bhubaneswar by more than doubling the head count to 12,000.

SAIL has committed Rs. 40,000 crore investment to ramp up capacity of the Rourkela Steel Plant  to 10 million tpa. SAIL is currently expanding its capacity to 4.5 million tpa.

Mukesh Ambani’s Reliance Industries committed a fresh investment commitment of Rs. 3,000 crore in Reliance Jio in Odisha, over the next three years. Reliance already invested Rs. 6,000 crore here.

Anil Agarwal’s Vedanta Resource has committed to develop the underdeveloped belt of Kalahandi through sustained investments in an aluminium refinery and community development.

FMCG and food majors ITC and Britannia — who have facilities at Khurda in Odisha — promised fresh investments of Rs. 550 crore and Rs. 60 crore respectively in next 3-5 years.

The Adani Group has committed to develop a Rs. 500-crore airstrip for captive use at Dhamra port.