Odisha attracts Rs 70,000 cr investment at Make in India Week

MUMBAI: Odisha has successfully attracted around Rs 70,000 crore investment in two days from different investors at the investors meet organised as part of Make in India Week in Mumbai, said a government official on Monday.

While Vedanta has proposed to set up an Aluminium Park at Jharsuguda with an investment potential of Rs 1000 crore, Solon India proposed to set up 400 MW capacity solar power manufacturing facility in the state on Monday.

On the first day of Make in India week on Sunday, the state had attracted investments to the tune of Rs. 56,400 crores including an aluminium refinery by L&T, expansion by NALCO, food processing and hospitality by ITC, expansion of the power plant by GMR and downstream petrochemical projects by IOCL.

Several investors discussed with Industry Minister Debi Prasad Mishra and senior officials of the state government at the investors meet on Monday.

Persistent Systems would explore opportunities for IT sector investment in the state and has expressed interest in visiting Bhubaneswar this month.

Similarly, Lava International would visit Bhubaneswar soon to evaluate possible locations for investment. Mandhana Industries will visit Odisha to set up a textiles manufacturing facility.

Vedanta Ltd on Monday said it would sign a pact with Odisha government to set up an Aluminium park, which is likely to create 17,000 jobs and attract over Rs 1,000 crore investment.

The plug-and-produce park will be set up in 240 acres of land, near Vedanta Aluminium’s Jharsuguda plant, providing an ecosystem for industries dependent on and manufacturing aluminium conductors, extrusions, castings, foils, powder and paste.

Vedanta Aluminium CEO Abhijit Pati said, “This will create a win-win situation for all. The park has potential to attract over Rs 1,000 crore of investment, which can be operationalised within a relatively short timeframe.”