Bhubaneswar: The High-Level Clearance Authority (HLCA), chaired by Odisha Chief Minister Mohan Charan Majhi, on Wednesday approved 20 major investment proposals worth ₹76,611.86 crore that are expected to generate 50,517 employment opportunities across nine districts of the state.
The approvals were granted during the 45th meeting of the HLCA and cover a diverse range of sectors, including gemstone manufacturing, green energy equipment, aerospace and defence, rare earth minerals-based value-added products, pharmaceuticals, capital goods, chemicals, steel, iron and ferro alloys, and power and renewable energy.
Highlighting Odisha’s growing industrial appeal, Chief Minister Majhi said the state’s progressive policies, improved ease of doing business, robust infrastructure and proactive investor facilitation efforts have helped attract investments across both traditional and emerging sectors.
“Today’s approvals reflect growing investor confidence in Odisha and our commitment to creating employment opportunities, promoting industrial growth and ensuring balanced development,” he said.
Among the major proposals, Kira Diam LLP, Anjali Labtech Limited and Grow Magnificent Private Limited will establish lab-grown diamond manufacturing units in Khordha with a combined investment of ₹9,817.50 crore. The projects are expected to create 8,100 jobs and strengthen Odisha’s position in the gemstone manufacturing sector.
In the renewable energy segment, Tata Power Renewable Energy Limited will invest ₹10,000 crore to set up an ingot and wafer facility along with a solar photovoltaic (PV) cell manufacturing unit in Ganjam, generating 5,000 jobs. Saatvik Solar Industries Private Limited will invest ₹1,709.81 crore in a solar PV cell manufacturing facility in the district, creating 519 employment opportunities.
The HLCA also approved key projects in the advanced materials and rare earth sector. N.A.N. Magnetech Private Limited will invest ₹1,250 crore to establish a high-performance EV-grade NdFeB magnet manufacturing unit in Khordha or Cuttack, creating 2,000 jobs. Larsen & Toubro Limited will invest ₹2,400 crore in a sintered NdFeB permanent magnet manufacturing facility in Ganjam, generating another 2,000 jobs. World Titanium Industry Private Limited will invest ₹2,800 crore in a titanium dioxide slag and pigment manufacturing unit in Ganjam, creating 1,500 jobs.
The steel sector accounted for a significant share of the approved investments. Rashmi Metallurgical Industry Private Limited received approval for a ₹15,000-crore investment in a 4 MTPA integrated steel plant in Jajpur, expected to generate 11,000 jobs. Shyam Metalics and Energy Limited will invest ₹7,580 crore in a 1 MTPA integrated steel unit in Sambalpur, creating 3,500 jobs.
SMC Power Generation Limited secured approval for expansion projects at its Badmal and Hirma units in Jharsuguda, involving a combined investment of ₹9,150 crore and generating 4,000 jobs. BR Steel & Power Private Limited will establish a 1.2 MTPA integrated steel plant in Sambalpur with an investment of ₹2,400 crore, creating 5,020 jobs, while Orissa Alloy Steel Private Limited will invest ₹1,200 crore in an iron ore beneficiation plant in Sundargarh, generating 1,100 employment opportunities.
In the power sector, Rajapuspa Renova LLP will set up a pumped storage hydro power project in Malkangiri with an investment of ₹5,220 crore, creating 500 jobs. KU Urja Private Limited will invest ₹2,471.98 crore in a coal-based thermal power plant in Jharsuguda, generating 478 jobs.
Meanwhile, Singhal Steel and Power Private Limited will invest ₹1,300.57 crore in an aluminium downstream products manufacturing unit in Rayagada, creating 3,000 employment opportunities.
The latest approvals further reinforce Odisha’s position as a preferred investment destination and are expected to provide a major boost to industrialisation, employment generation and regional economic development across the state.
