By Bizodisha Bureau, Bhubaneswar, December 02, 2022: Odisha has got about Rs 1.91 trillion investment intent from the renewables sector, including a memorandum of understanding (MoU) from ReNew Power for Rs 45,000 crore announced on Thursday on the sideline of the ongoing Make in Odisha Conclave. Avaada, Waaree, among others were also investing.

“This is for the first time that we have got investment from the renewables segment,” said Hemant Sharma, principal secretary, industries department. Till Friday, the second day of the Make in Odisha conclave, the total investment intent bagged was about Rs 8.9 trillion.

On Friday, the state received 180 investment intent forms (IIFs) across sectors, said Sharma. The IIFs were worth Rs 1.7 trillion and has the potential to create employment for 378,446.

He added that over the last two days, the total number of investment intents received were 325, with 145 received on Thursday and 180 on Friday.

Tata Power CEO and MD Praveer Sinha has announced a Rs 6,000-crore capital investment by the company in Odisha in the next five years.

In steel, JSW group chairman and managing director, Sajjan Jindal, has committed an additional Rs 1 trillion in the state.

ArcelorMittal Nippon Steel India (AM/NS India) is also looking at additional investment, it is understood.

Odisha being rich in minerals has an inherent advantage in attracting investment from the steel and metal sectors. According to the ministry of mines annual report 2021-2022, Odisha had a 47.2 per cent share in the country’s mineral production.

“Steel and other sectors will continue to invest. The earlier we are able to give land, water and power, the earlier those investments will materialise. Companies are very keen on setting up facilities. But there was a concerted effort to attract investment from non-mineral and non-metal sectors,” Sharma said.

But there is a link even with the investment in green energy and metals. “These companies see a future in decarbonisation of metal companies. There is a business case and we need to incentivize them,” Sharma said.

Leave a Reply

Be the First to Comment!

Notify of