By Bizodisha Bureau, Bhubaneswar, July 20, 2018: Odisha government has pinned hopes on the roadshows abroad to woo investment close to rupees ten thousand crore.

In the run-up to its second edition of ‘Make in Odisha’ conclave scheduled from November 11-15, an official delegation had visited Germany, Italy and Saudi Arabia to woo fresh investments.

“We expect positive outcome of the roadshows which have already enthused investors. Companies cutting across sectors have evinced interest in putting money on new projects. We expect at least Rs 10,000 crore in petrochemicals, textiles and aluminium downstream”, a top official said.

The roadshows primarily aimed at exposing the potential investors to the state government’s pro-industry policies and reforms. The state government is also trying to tap a country to be a partner for the proposed second investment conclave here.

Officials are very optimistic about the state emerging as an ultimate investment destination for the virgin investors. “Their response at these roadshows is very encouraging. We are expecting investment to pour in petrochemicals, aluminium downstream and textiles industries”, officials said.

Riyadh-based SABIC, a global leader in diversified chemicals, is likely to invest Rs 50oo crore on a petrochemical project in Odisha’s coast. SABIC where the Saudi Arabia government owns 70 per cent equity, has operations spanning 50 countries.

At the maiden ‘Make in Odisha’ summit in December 2016, the state drew investment intents in excess of Rs one lakh crore including Rs 97000 crore in metals and mining sector.

Unlike in the past, more than half of the investments proposed are in various stages of implementation or approval.

Odisha had been pro-active since Naveen Patnaik swept the assembly polls in 2014 by taking pro-industry policy measures including a focused approach to facilitating investments through technology-enabled interventions like launch of Government of Odisha Single Window for Investor Facilitation & Tracking (GO-SWIFT) portal, institutionalization of State Level Facilitation Cell, appointment of sector-specific nodal officers to handhold investors, identification of key focus sectors, and regular roadshows inside the country and abroad.