Jindal, Adani line up more projects in Odisha
Major business groups, such as Sajjan Jindal, Adani, Lakshmi Mittal, Tatas, Anil Agarwal, and Essar, on Thursday announced big-ticket projects and investments in Odisha, some of which were underway.
At the third edition of Make in Odisha, Chief Minister Naveen Patnaik told investors that his government would run the extra mile to make them comfortable in the state.
“We will walk along your side and make sure your dreams as an entrepreneur are realised. Odisha’s prosperity is inter-linked with new investments. We completely understand this and therefore, we welcome you from the core of our hearts.”
Sajjan Jindal, chairman and managing director of JSW group, said Odisha would be one of the first states to become a trillion-dollar economy, which would be a huge achievement. The JSW group, he said, had committed ~60,000 crore investment about four years ago. “We have already invested over ~30,000 crore and another ~30,000 crore is underway.”
On Thursday, Jindal committed another ~1 trillion across various projects, including a steel plant at Paradip, silicon wafer plant for solar panels, renewable power, etc.
Karan Adani, chief executive officer of Adani Ports and SEZ, said the group would invest ~60,000 crore in the next five years. In the past five years, the group has invested ~20,000 crore, which includes LNG terminal and Dhamra port.
Lakshmi Mittal, executive chairman of Arcelormittal, said the company had decided to invest in steel plants in Kendrapara and in Paradip. Its joint venture with Nippon Steel is planning to set up a 24 mtpa plant in Kendrapara and 6 mtpa at Paradip.
Prashant Ruia, director of Essar Capital, said Essar had plans to set up several projects in Odisha, including a 14 mtpa export-oriented pelletising complex at an investment of ~12,000 crore.
Tata Steel MD and CEO T V Narendran said the company was already producing about 9 million tonnes of steel in Odisha, which makes it the largest steel producer in the state. “We plan to double this over the next few years.”