Odisha Woos UAE Investors With Rs 2.1 Lakh Crore Project Pipeline

The Odisha government signed an agreement for 14 projects involving investments of around Rs 2.10 lakh crore during its investor outreach in the UAE, officials said.

The agreement was signed in the presence of Chief Minister Mohan Charan Majhi in Abu Dhabi with a partnership between International Holding Company (IHC) and the Adani Group. The projects have an indicative employment potential of around 8.68 lakh people.

The proposed investments cover metal downstream industries, slurry pipelines, critical minerals and rare earths, chemicals and petrochemical derivatives, renewable energy equipment, healthcare, industrial infrastructure, tourism, skill development and sports infrastructure.

The investment and employment estimates are subject to feasibility studies, due diligence, requisite approvals and execution of definitive agreements, the Odisha government said.

During the outreach, discussions were held on an integrated aluminium project. Land has been proposed for an alumina refinery in Kalyansinghpur tehsil of Rayagada district and an aluminium smelter in Sadar Sundargarh tehsil of Sundargarh district.

The Odisha government also signed a Memorandum of Cooperation with the Indian Business and Professional Group (IBPG) to promote bilateral trade and explore investment opportunities in the state.

Discussions with the group included exports of Odisha products such as turmeric, ginger and seafood, contract manufacturing for UAE brands and opportunities for highly skilled manpower.

Majhi also met Hazeem Sultan Al Suwaidi, CEO of Borouge's petrochemicals division, and invited the company to explore setting up a large-scale chemicals downstream complex in Odisha. The proposed complex could have feedstock linkages with Indian Oil Corporation Ltd's planned naphtha cracker at Paradip.

At a separate roundtable with UAE-based investment institutions, the state government presented projects that could be developed through public-private partnerships (PPP). Discussions covered institutional participation, project evaluation and potential long-term investment partnerships.

The UAE outreach also included an exhibition of Odisha's One District, One Product (ODOP) offerings in Dubai, featuring traditional products, handicrafts and local enterprises.