Odisha receives Rs 21,000 crore investment proposals

BHUBANESWAR, Odisha: The state of Odisha, on Wednesday, July 20, received the investment proposals of worth Rs 21,000 crore at the Dubai Investors summit which was inaugurated by Chief Minister of Odisha Naveen Patnaik.

The Government of Odisha and the Federation of Indian Chambers of Commerce and Industry (FICCI) joined hands with Embassy of India in the United Arab Emirates (UAE), to organise the Dubai investor’s summit.

Speaking about the summit CM Patnaik said, “Investment intents worth more than ₹21,000 crore which have employment potential of more than 19,000 were received by the state across sectors such as infrastructure, hospitality, logistics, chemicals, food processing.” 

CM Patnaik asked the investors to visit Odisha and assured them of complete assistance from the state government. He also made the announcement about hosting the third edition of the ‘Make in Odisha’ summit which will be organised from November 30 to December 4 in the capital city of Bhubaneswar.

He also highlighted that the state has attracted investment worth $50 billion in the last two years despite being the pandemic years. Metals, chemicals and petrochemicals, textiles and apparel and food processing sectors have been the most attractive destination for Foreign Direct Investment (FDI) in the Odisha.

More than 150 companies from the Middle East and North African countries participated in the investor’s meet.

In a series of tweets, the CM has informed that the Lulu Group is planning to invest over Rs 500 crores in the metals, metallurgy and hospitality sectors. Additionally, the NBTC Group of Kuwait is planning to invest Rs 5,000 crore for a urea plant and the Tabreed Group of UAE has proposed to invest Rs 1,000 crore to set up an information and communication technology campus in Odisha and the Sharaf Group is interested in investing in the logistic sector.