Odisha has received investment proposals worth nearly Rs. 4,20,000 crore at the ongoing biennial investor summit, Chief Minister Naveen Patnaik has said.

This investment intent is more than double of what the State government received in the first edition of the summit in 2016. Proposals then totalled Rs. 2,03,000 crore of which two-thirds are in implementation or ground-breaking stages.

According to Patnaik, the 2018 edition of Make-in-Odisha Conclave saw 183 investment commitments coming in from 15 sectors, mostly manufacturing industries. Around 5,90,000 jobs are expected to be generated from these proposals.

“The total investment intents received by the State in the run-up and during the event are to the tune of Rs. 4,19,574 crore in 15 sectors. (They have) the potential to generate 5.91 lakh jobs,” the Chief Minister said at the valedictory session.

Being a mining belt and rich in natural resources, most investment proposals came from minerals, metals and downstream companies. Investment commitments of around Rs. 2,36,000 crore came from this segment.

The major investment commitments include Rs. 41,000 crore for the expansion plan of SAIL’s Rourkela Steel Plant; around Rs. 38,000 crore from NALCO; a Rs. 10,000-crore investment intent from Tata Steel; and a Rs. 14,500-crore commitment from the Aditya Birla Group.

Jindal Steel and Power has proposed a Rs. 61,000-crore investment for the expansion of its steel plant to 20 mtpa at Angul, while Mahanadi Coalfields proposes to invest Rs. 59,000 crore in mining sector.

According to Sanjeev Chopra, Odisha Industries Secretary, 37 proposals were in fertiliser, chemicals and petrochemicals segment wih an investment intent of Rs. 1,35,309 crore.

Primary investors included Haldia Petrochemicals that committed to an investment of Rs. 70,000 crore, while Indian Oil Corporation (IOCL) plans to invest over Rs. 10,000 crore.

This apart, there were six proposals for investment in industrial parks worth Rs. 8,432 crore, and 12 investment proposals in the logistics sector totalling Rs. 18,000 crore.

According to Chopra, the summit received foreign direct investment proposals from four countries including an investment plan in the petrochem sector by a Taiwanese company; a Dutch logistics and infra company; a food processing company from Thailand, and the last from a Japanese company.

“The foreign investors have requested that their names not be revealed,” Chopra said.

Other sectors that saw investment proposals included healthcare, tourism, power and renewable energy, and textile and apparels.

The next edition of the Make in Odisha Conclave will be held from November 30 to December 4, 2020.

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