The Odisha government on Wednesday approved 20 mega investment proposals worth Rs 76,612 crore which will generate employment for over 50,0000 people in the state.
The project proposals were approved at the High Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi.
“With progressive policies, robust infrastructure, and a strong commitment to ease of doing business, Odisha continues to attract investments across both emerging and core sectors. These projects will contribute significantly to employment generation, industrial diversification, and inclusive economic growth,” the CM said.
The projects span key sectors including gemstone manufacturing, green energy equipment, aerospace & defence, rare earth minerals-based value-added products, pharmaceuticals, mechanical and electrical capital goods, chemicals, steel, iron & ferro alloys, and power & renewable energy, an official said.
Lab-grown diamond projects worth Rs 9,817 crore proposed in Khordha
Kira Diam LLP, Anjali Labtech Limited, and Grow Magnificent Private Limited have proposed to establish lab-grown diamond manufacturing units in Khordha with a combined investment of Rs 9,817.50 crore, generating 8,100 employment opportunities. These projects are expected to strengthen Odisha’s position in the gemstone manufacturing sector, they said.
Major push in green energy equipment manufacturing
In Green Energy Equipment sector, Tata Power Renewable Energy Limited will establish an ingot and wafers along with a Solar PV Cell Manufacturing Unit in Ganjam district with an investment of Rs 10,000 crore, while Saatvik Solar Industries Private Limited proposed to invest Rs 1,709.81 crore in a Solar PV Cells Manufacturing Facility in the same district.
N.A.N. Magnetech Private Limited will invest Rs 1,250 crore to establish a High-Performance EV Grade NdFeB Magnets manufacturing unit in Khordha/Cuttack, while Larsen & Toubro Limited will invest Rs 2,400 crore in a Sintered NdFeB Permanent Magnets manufacturing facility in Ganjam.
Additionally, World Titanium Industry Private Limited will establish a Titanium Dioxide Slag and Titanium Dioxide Pigment Manufacturing Unit in Ganjam with an investment of Rs 2,800 crore, they said.
Steel and metals sector sees massive investment flow
In manufacturing sector, Ratnamani Metals and Tubes Limited proposed to set up an Integrated Speciality Steel Manufacturing Unit in Jajpur with an investment of Rs 1,642 crore.
Similarly, in the pharmaceutical sector, Nectar Lifesciences Limited will invest Rs 1,170 crore in Sambalpur for a Pharmaceutical Manufacturing unit, while Jupiter Wagons Limited will establish a Railway Coach Manufacturing Facility in Jajpur with an investment of Rs 1,500 crore.
The Steel, Iron & Ferro Alloys sector accounted for a significant share of the approved investments. Rashmi Metallurgical Industry Private Limited will invest Rs 15,000 crore to establish a 4 MTPA Integrated Steel Plant in Jajpur, while Shyam Metalics and Energy Limited will invest Rs 7,580 crore in Sambalpur for a 1 MTPA Integrated Steel Manufacturing Unit.
SMC Power Generation Limited (Badmal) will invest Rs 5,350 crore for the expansion of its Integrated Steel Plant and Cement Manufacturing Unit in Jharsuguda, while SMC Power Generation Limited (Hirma) will invest Rs 3,800 crore for a similar expansion project.
BR Steel & Power Private Limited will establish a 1.2 MTPA Integrated Steel Plant in Sambalpur with an investment of Rs 2,400 crore, and Orissa Alloy Steel Private Limited will invest Rs 1,200 crore in an Iron Ore Beneficiation Plant in Sundargarh.
Power, renewable energy and chemicals attract large proposals
In the Power & Renewable Energy sector, Rajapuspa Renova LLP will establish a Pumped Storage Hydro Power Plant in Malkangiri with an investment of Rs 5,220 crore, generating 500 employment opportunities. Additionally, KU Urja Private Limited will invest Rs 2,471.98 crore in a Coal-Based Thermal Power Plant in Jharsuguda.
The Chemical sector also witnessed a major investment with Singhal Steel & Power Private Limited proposing an Aluminium Downstream Product manufacturing unit in Rayagada with an investment of Rs 1,300.57 crore.
Published on June 17, 2026
