Tue Jan 28 18:56:23 UTC 2025: ## Odisha Attracts ₹5 Lakh Crore in Investments at Utkarsh Conclave

**Bhubaneswar, January 29, 2025** – The inaugural day of the Utkarsh Odisha Conclave witnessed a massive influx of investment commitments, totaling ₹5 lakh crore (US$60.97 billion). Fifty-four Memoranda of Understanding (MoUs) were signed, signaling significant growth for Odisha’s industrial sector.

Leading the charge was the Adani Group, pledging ₹2.28 lakh crore across various sectors including power, cement, industrial parks, aluminum, and city gas. Vedanta Limited committed ₹1 lakh crore towards a 3 million tonnes per annum aluminum plant and an associated aluminum park. JSW Group, under Sajjan Jindal, announced investments of ₹75,000 crore, including a new greenfield steel project in Keonjhar. Jindal Steel and Power Limited (JSPL) added another ₹70,000 crore to the total. Tata Steel’s CEO and Managing Director, T V Narendran, highlighted the company’s existing substantial investment in Odisha and projected further expansion. Aditya Birla Group also committed ₹70,000 crore to various Odisha-based projects.

Chief Minister Mohan Charan Majhi expressed optimism about Odisha’s future, emphasizing the state’s commitment to facilitating investments through streamlined processes like single-window clearance. He met with several prominent investors, including Karan Adani and Anil Agarwal, chairman of Vedanta Limited. The conclave, showcasing Odisha’s investment potential, attracted over 100 investment intents from various industrial houses.

Read More