MoUs worth Rs 4.5 lakh crore signed on day one of Utkarsh Odisha investment summit: Sampad Chandra Swain - World News Network

Bhubaneswar (Odisha) [India], January 29 (ANI): Odisha’s Industry Minister Sampad Chandra Swain on Wednesday said that MoUs worth Rs 4.5 lakh crore were signed on the first day of the ‘Utkarsh Odisha- Make in Odisha Conclave 2025’, a flagship global investment summit hosted by the state government.
“Prime Minister Modi inaugurated this conclave yesterday. MoUs worth Rs 4.5 lakh crore were signed in Odisha yesterday. Many MoUs will be signed today also. We have achieved our target of MoUs worth Rs 5 lakh crore. This will lead to a prosperous Odisha,” Swain told ANI.
Meanwhile, Union Minister Ashwini Vaishnaw highlighted the multiple sectors that are planning to invest thousands of crores in the state, including railways, telecom and IT-related sectors.
Talking about the multiple investments in the state on the sidelines of Utkarsh Odisha conclave, Minister Vaishnaw said, “Today, an environment of investment has been created in Odisha. People from all over the world have come here today… I will put forth three major points… First, Railways is investing Rs. 73,000 crore in Odisha. Second, an investment of Rs. 5033 crore in telecom. Third, a decision has been taken today to invest Rs. 20,000 crore in all the IT-related sectors.”
Tata steel is planning to expand the capacity of its three existing plants, Neelachal Ispat Nigam, Kalinganagar, and Bhushan, according to the company’s global CEO and managing director T V Narendran.
Speaking to ANI on the sidelines of the Utkarsh Odisha, Narendran said, “We have three plants Neelachal and Kalinga Nagar and Bhushan and we will expand all of them.”
“In the last ten years, we have invested in the almost-Hundred Thousand Crores in steel. Kalinga Nagar has now reached eight million tonnes (of capacity). We have acquired Bhushan (Bhushan Steel plants) and Neelachal (Neelachal Ispat Nigam Limited). So this is a very deep relationship for us and in the coming days,” the CEO added.
Tata Steel is one of the most diversified integrated steel producers in the world, with an annual crude steel production capacity of 35 MTPA across manufacturing assets in India, the Netherlands, the UK, and Thailand.
Adani Group has committed to invest Rs 2.3 lakh crore in Odisha over the next five years across sectors such as power, cement, industrial parks, aluminium and city gas.
Karan Adani, MD, Adani Ports and SEZ Ltd, met Odisha CM Mohan Charan Majhi and exchanged MoU for investments in Odisha over the next five years. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News