Odisha govt. clears investment proposals for 10 projects worth ₹44,241 crore

The Odisha government has approved industrial investment proposals worth ₹44,241.97 crore, paving the way for 10 major projects across eight districts and the creation of about 8,765 employment opportunities.

The proposals were approved at the High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Mohan Charan Majhi on Wednesday (February 25, 2026). 

Bharat Forge Limited will invest ₹3,000 crore in Dhenkanal to establish an automotive, aerospace, and defence components manufacturing unit, generating 1,000 employment opportunities with an aim of positioning Odisha as a high-precision engineering destination.

The semiconductor sector received a major boost with ASP Semicon Private Limited proposing a ₹4,620 crore semiconductor memory chip module plant in Khordha, expected to generate 2,500 jobs. In the rare earth segment, Magnova Private Limited will invest ₹1,050 crore in a high-performance magnet manufacturing facility, strengthening the State’s electronics ecosystem.

Major projects those were discussed in HLCA included Adani Hydro Energy Twelve Limited which will invest ₹9,731.47 crore in Nayagarh.

Sangamam CD Hydro Consortium will invest ₹9,000 crore in Koraput. Greenko OR01 IREP Private Limited has proposed ₹7,506.94 crore in Kalahandi, while Jindal Green PSP Two Private Limited will invest ₹3,711.56 crore in Deogarh for pumped Storage Hydro Power Plant. These pumped storage projects collectively strengthen Odisha’s long-term energy security, grid stability, and renewable integration capacity

Mr. Majhi said Odisha was shifting its focus from traditional industries to emerging, technology-driven sectors such as semiconductors, renewable energy, and advanced manufacturing.

He emphasised that timely implementation of approved projects would be key to achieving the State’s vision of “Samruddha Odisha by 2036.”

He pointed out that the State government was focused not only on attracting investments but also ensuring swift execution through improved ease of doing business, service-level agreements and stronger ground-level facilitation.