New Delhi: In a major achievement in the aftermath of Utkarsh Odisha: Make in Odisha, the State government today signed 13 MoUs with different companies to get investment worth Rs 1.03 crore.
The MoUs were signed in presence of Chief Minister Mohan Charan Majhi in New Delhi during an investors’ meet. The projects are expected to generate around 95,915 employment opportunities, fostering regional economic growth and boosting industrial activity, officials said.
The highlight was the agreement with Indian Oil Corporation Ltd (IOCL) for setting up a Dual-Feed Naphtha Cracker Project in the State, entailing an investment of Rs 98,880 crore.
The initiative is expected to generate around 67,000 jobs and significantly enhance the state’s petrochemical infrastructure and manufacturing capabilities.
The IOCL has signed the MoU for the establishment of a Dual-Feed Naphtha Cracker Project. This landmark agreement is expected to bring in investments of over Rs 58,042 crorer generating employment for 24,000 people, the officials said.
In addition to the MoU with IOCL, agreements were also signed with the Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG. These partnerships reinforce Odisha’s strategic role in India’s petrochemical landscape and reflect a commitment to sustainable industrial development, import substitution, and a resilient supply chain.
In his keynote address, the Chief Minister emphasized Odisha’s vision to emerge as a petrochemical and manufacturing hub.
“Today’s MoU with Indian Oil Corporation Ltd. is a landmark moment in Odisha’s industrial journey. It reflects not just a shared vision but a strong belief in the State’s potential to lead India’s petrochemical revolution from the east,” Majhi said.
“Paradip, with its strategic location and evolving infrastructure, is poised to become a transformative industrial hub—much like Dahej in the west. Odisha is ready, and we invite you to invest in our bright future. Yahi Samay Hai, Sahi Samay Hai,” he asserted.
The program began with a welcome address by Chief Secretary Manoj Ahuja, followed by remarks from A S Sahney, Chairman, IOCL. A video on the chemicals sector ecosystem and a presentation by Additional Chief Secretary (ACS), Industries and MSME, Hemant Sharma, showcased Odisha’s industrial growth strategy.
The event was addressed by Industries Minister Sampad Chandra Swain, Union Ministers Jual Oram (Tribal Affairs), Dharmendra Pradhan (Education), and Hardeep Singh Puri (Petroleum and Natural Gas), who lauded Odisha’s proactive approach to industrialization.
The CM also engaged in one-on-one meetings with notable industry leaders from various sectors at the Taj Palace Hotel in New Delhi.