Bhubaneswar: Chief minister Mohan Charan Majhi on Friday said Odisha received investment proposals worth Rs 54,000 crore during India Chem-2026 in Mumbai and secured the Centre’s approval to host the next edition of the summit in Bhubaneswar.Speaking to reporters after returning from Mumbai, Majhi said he held 25 meetings with potential investors, resulting in nine MoUs and four investment intents with a combined potential investment of Rs 54,000 crore. The proposed projects are expected to generate over 20,000 jobs. “With strengths in metals and downstream industries, along with chemicals, petrochemicals and allied sectors, Odisha is steadily emerging as a complete industrial ecosystem,” he said.Majhi said Union chemicals and fertilisers minister J P Nadda agreed to hold the next India Chem summit in Bhubaneswar. “This will open up significant opportunities for Odisha and further enhance its investment profile,” he added. NLC India Ltd signed MoUs worth Rs 36,764 crore across the power and chemical sectors. Engineering major L&T committed Rs 8,100 crore through an MoU, with the project expected to generate around 1,300 jobs. The state secured investment commitments of Rs 53,894 crore, including nine MoUs worth Rs 51,444 crore and four investment intents valued at Rs 2,450 crore.Earlier, the chief minister held discussions with the leadership of POSCO, JSW Group and Larsen & Toubro (L&T) to explore fresh investment opportunities and strengthen Odisha’s industrial ecosystem, with a focus on employment generation and long-term economic growth. The meetings assumed significance as JSW Group on Friday announced a Rs 7,500-crore expansion of its steel facility in Sambalpur.Majhi and the state delegation met senior executives of POSCO and JSW Group, both of which have multiple steel projects under implementation in Odisha. The discussions were part of the state’s efforts to position itself as a major industrial and investment destination. The meeting was attended by POSCO India chief S L Chun, managing director of its Mumbai office Jacy Kim, and JSW Group chairman Sajjan Jindal.Officials said the discussions reviewed progress on the JSW-POSCO joint venture agreement signed in April for a proposed 6-million-tonne-per-annum (MTPA) greenfield steel plant spanning Keonjhar and Dhenkanal districts. The Rs 35,000-crore project is expected to be operational by 2031.JSW Group also apprised the delegation of its expansion plans in Odisha. In a stock exchange filing on Friday, the company announced plans to expand its Sambalpur steel facility by another 5 MTPA at an investment of Rs 7,500 crore. Through its joint venture with Japan’s JFE Steel Corporation, JSW JFE Steel Ltd currently operates a 4.5 MTPA integrated steel plant in the state.JSW Steel and South Korea’s POSCO had earlier entered into a joint venture to set up a 6 MTPA greenfield steel plant in Odisha, marking a major strategic partnership between the two global steelmakers. Separately, JSW Group, through its subsidiary JSW Utkal Steel Ltd, is developing a 13.2 MTPA integrated steel plant at Dhinkia near Paradip in Jagatsinghpur district.“Odisha is a highly favourable destination for industrialisation and investment. Our government is committed to providing investors with the necessary support, infrastructure and a business-friendly environment. Our goal is to attract greater investments, create employment opportunities for youth and accelerate the state’s economic growth,” Majhi said.The chief minister met L&T chairman and managing director S N Subrahmanyan to explore new investment avenues and review the company’s ongoing projects and operations. During a visit to L&T’s facility, he was briefed on the company’s global footprint, operational model and major engineering achievements. The discussions focused on expanding L&T’s presence in Odisha and creating more employment opportunities, reinforcing the state’s push to attract large-scale investments and accelerate industrial growth.
