Odisha Approves Rs 44,241 Crore Investment Across 10 Projects

The proposals were approved at the 44th meeting of the High Level Clearance Authority (HLCA), underlining the state government’s focus on renewable energy, advanced manufacturing and semiconductor-connected infrastructure.

A significant portion of investment is being directed to renewable energy, particularly pumped storage hydropower projects that aim to strengthen grid stability and facilitate large-scale integration of green energy. Four such projects received approval:

Adani Hydro Energy Twelve Ltd will invest Rs 9,731.47 crore in Nayagarh.

Sangamam CD Hydro Consortium has proposed a Rs 9,000-crore project in Koraput.

Greenko OR01 IREP Pvt Ltd will invest Rs 7,506.94 crore in Kalahandi.

Jindal Green PSP Two Pvt Ltd plans to invest 3,711.56 billion rupees in Deogarh.

Together, these projects point to Odisha’s growing importance as a renewable energy hub in eastern India.

In the semiconductor segment, ASP Semicon Private Ltd will set up a semiconductor memory chip module manufacturing facility in Khordha with an investment of Rs 4,620 billion. The unit is expected to create 2,500 direct jobs and strengthen the state’s participation in India’s emerging electronics manufacturing ecosystem.

Khordha also operates Magnova Private Ltd. It will also see the setting up of a Rs 1,050-crore integrated high-performance magnet manufacturing unit by . The project is set to increase Odisha’s footprint in advanced materials and rare earth applications, sectors of strategic importance for clean energy and electronics.

Further diversifying the industrial portfolio, Bharat Forge Ltd has proposed a Rs 3,000-crore facility in Dhenkanal to manufacture automotive, aerospace and defense components. The project is expected to create employment opportunities for 1,000 people and strengthen the state’s goals for high-value engineering.

In southern Odisha, NCL Industries Ltd will invest Rs 2,000 billion in Koraput, while Dalmia Cement (Bharat) Ltd will set up an integrated cement plant in Malkangiri with the same investment of Rs 2,000 million. Together, the two projects are expected to create employment for approximately 2,000 people and deepen industrialization in the region.

Additionally, Shreetech Data Limited-CLS will invest Rs 1.622 billion to develop a cable landing station in Puri, strengthen telecommunication and digital infrastructure along the east coast and support the growing data and connectivity needs of the state.

The latest approvals, focusing on renewable energy, advanced manufacturing and digital infrastructure, reflect Odisha’s effort to position itself as a competitive destination for next-generation industries and also create employment across regions.