Bhubaneswar: In a move signaling Odisha’s growing appeal as a premier investment destination, Shri Hemant Sharma, the Additional Chief Secretary of the Industries Department, held a crucial meeting with Shri Sidharth Jain, Director of INOX Air Products.
The discussions focused on INOX’s significant plans to establish industrial gas facilities across the state, which is vital for supporting the burgeoning steel, metal, and manufacturing sectors.
Furthermore, the meeting addressed INOX’s strategy to extend its multiplex brand presence, promising enhanced entertainment infrastructure for the people of Odisha.
The discussions confirm INOX Air Products’ major investment plan in the state, which is part of its strategic expansion in Eastern India:
INOX Air Products is investing approximately ₹1,300 Crore (or $156 million approx.) in a greenfield project in Odisha.
This investment is for setting up two large Air Separation Units (ASUs) at the Tata Steel Meramundali Plant in the Dhenkanal district.
Each ASU will have the capacity to produce 1,800 Tons of Oxygen per day (TPD), along with Nitrogen and Argon.
This project, which supports Tata Steel’s ongoing capacity expansion, is noted as the single largest greenfield investment ever made by INOX Air Products, underscoring Odisha’s critical role in the national steel and metal value chain.
The meeting underscores the pivotal role played by ACS Shri Hemant Sharma in scaling up investment in Odisha. Known for his proactive and positive approach, Shri Sharma has been instrumental in creating a highly favourable environment that has deeply “endeared investors.”
The success of these efforts is evident as mega investments are being lined up across various sectors, transforming the state’s economic landscape.
Shri Sharma’s dedication to facilitating ease of doing business and his forward-looking policy implementations are widely credited for this significant surge in capital inflow, making Odisha a magnet for major industrial and service-sector projects.
The strategic discussion with INOX Air Products is another testament to his commitment to diversified industrial growth and infrastructure development in the state.