Bhubaneswar: Odisha signed an MoU with Abu Dhabi-based International Holding Company (IHC) and the Adani Group to explore 14 projects with a proposed investment of Rs 2.1 lakh crore and employment potential for around 8.68 lakh people, on the first day of the three-day investors’ outreach programme in the UAE on Wednesday.The proposed projects span 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, an official statement said.CM Mohan Charan Majhi said Odisha’s strengths position it as an attractive destination for global investors. “Odisha offers a unique combination of natural resources, industrial capabilities, strategic location and a growing infrastructure ecosystem. We invite IHC and its group companies to explore long-term investment opportunities in Odisha, particularly in critical minerals, metallurgy, port-led development and emerging industrial sectors,” he said.The expanded partnership builds on the July 2 agreement signed between Odisha, IHC and the Adani Group for an around Rs 1.1 lakh crore integrated aluminium value chain project, considered the largest foreign direct investment in India’s metals sector. The project is expected to generate more than 53,500 jobs.Discussions during the visit also advanced plans for the aluminium project, with land proposed in Rayagada district’s Kalyansinghpur tehsil for the alumina refinery and in Sundargarh district’s Sadar tehsil for the aluminium smelter.In another key development, the state signed a memorandum of cooperation with the Indian Business and Professional Group (IBPG) to promote bilateral trade and explore investment opportunities in Odisha. Majhi met IBPG office-bearers, including president Rajiv Shah and general secretary Varun Wahi, to discuss ways to strengthen commercial ties between Odisha and UAE-based businesses.The discussions focused on increasing exports of Odisha products, including turmeric, ginger and seafood, encouraging contract manufacturing for leading UAE brands and creating opportunities for skilled manpower from the state. Entrepreneurs from Odisha also participated in the interaction and explored avenues for expanding business partnerships and market access in the UAE.Majhi also met Hazeem Sultan Al Suwaidi, CEO of petrochemicals major Borouge, and invited the company to explore setting up a large-scale chemicals downstream complex in Odisha with potential feedstock linkages to Indian Oil Corporation’s proposed naphtha cracker project at Paradip.At a separate roundtable with UAE-based investment institutions, the chief minister showcased a range of infrastructure projects available under the public-private partnership (PPP) model and pitched Odisha as a long-term investment destination. The discussions focused on opportunities for institutional participation in the state’s infrastructure pipeline and project development initiatives.
