Friday, Jan 27 2023 | Time 15:50 Hrs(IST)
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Business Economy


Make in Odisha Conclave: 21 MoUs signed

Bhubaneswar, Dec1 (UNI) As many as 21 MoUs and submission of 46 Investment Intent Forms (IIF)were signed on day two of the third Make in Odisha conclave here on Thursday.
During the day the Industrial Policy Resolution 2022 was also launched in the presence of 54 Leading industrialists and entrepreneurs.
Two plenary sessions, three country sessions and eight sectoral sessions were conducted with 12 exhibitors and the participation of 11 countries - Japan, Germany, Norway, Nepal, Bangladesh, Australia, Indonesia, Israel, China, Singapore and Thailand.
Partner Country Ambassadors of Japan, Norway along with the Consul General of Germany present for the Plenary Session.
The key focus of the MIO 2022 conclave was to highlight the state's policy and regulatory framework towards investors and entrepreneurs focusing on emerging business opportunities, investments and the business ecosystem across key sectors that the State of Odisha offers.
The MIO Conclave 2022 saw the launch of the Industrial Policy Resolution 2022 which focuses on making Odisha the destination of choice for industrial enterprises across the country and globally.
The day began with a high-powered breakfast meeting hosted by Chief Minister Naveen Patnaik for 40 select industry leaders and 4 international diplomats.
For the first time in any state investors’ conclave, five financial institutions - BSE, NSE, SBI, SIDBI and IFC of the World Bank Group - attended an investment summit.
Partner countries and diplomats - His Excellency Hiroshi Suzuki, Ambassador of Japan to India, His Excellency Hans Jacob Frydenlund, Ambassador of Norway to India, His Excellency Dr Shankar Prasad Sharma, Ambassador of Nepal to India and Mr. Manfred Auster, Counsel General, Consul General, Consulate of the Federal Republic of Germany in Kolkata were present at the plenary session.
Addressing the session Executive Chairman, ArcelorMittal Lakshmi Niwas Mittal said, ‘In a JV with Nippon Steel, we are setting up a 24 million tonnes plant unit in Odisha.’
CEO, Adani Ports & SEZ Ltd Karan Adani said, the Group’s capital expenditure in Odisha over the coming 10 years will cross Rs. 60,000 crores and the company is planning for 35 berths and a 5 MT LNG terminal at Dhamra Port, an alumina refinery and an iron ore project which will create thousands of jobs in the state’.
Speaking on this occasion, JSW Group Chairman Sajjan Jindal said, ‘The group will invest about Rs1 lakh crore more in Odisha for setting up a steel plant in Paradip and silicon metal plant to produce solar panels.
He stated that the Group, the first ones to tap into the mines of Odisha and utilize the mineral, had already invested Rs.60,000 crore in the state.
Chairman & Founder, Vedanta Resources Limited Anil Agarwal said Vedanta Aluminium Park whose foundation stone was said by the Chief Minister will be India’s largest metal park.
The aluminum park , Agarwal said, will bring more downstream players to Odisha to deepen industrialization in the state.
Jindal Stainless Managing Director Abhyuday Jindal announced the Foundation Stone laying of Jindal Stainless Steel Park in the presence of the Chief Minister.
The stainless steel park, he said, would benefit the MSMEs to a large extent and make the State of Odisha a role model for other states for investment.
Tata Steel Limited, CEO & MD TV Narendran said the company has a production capacity of 8 million tonnes in the state and in this fiscal we are planning to double the capacity.’
The session ended with an exchange of MoUs between the Odisha Government and corporates such as Luminous Power Technologies Pvt. Ltd., IFB Agro, Fogla Corporation, Silox India Pvt. Ltd., Spino Paper,
Ashirvad Pipes Pvt. Ltd., DN Sea Shells Pvt. Ltd., Gadre Marine Export Pvt. Ltd., VCI Chemical Industries Pvt. Ltd., Happiest Minds Technologies Ltd. and Cotton World.
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