Bhubaneswar, Aug 20 (NationPress) The Chief Minister of Odisha, Mohan Charan Majhi, alongside his Council of Ministers and legislators, expressed his sincere appreciation to Prime Minister Narendra Modi for the green light on the Capital Region Ring Road (CRRR) project during a ceremony at the State Guest House here.

This ambitious 111-km six-lane road initiative is projected to cost around Rs 8,342 crore.

The CRRR is anticipated to alleviate traffic congestion and enhance Bhubaneswar’s growth as a significant hub for textiles and software, thereby fortifying Odisha’s economic landscape.

During his address, Chief Minister Majhi remarked: "I extend my heartfelt gratitude to Prime Minister Narendra Modi for endorsing the Capital Region Ring Road project. This groundbreaking initiative will facilitate better connectivity, spur industrial advancement, and create fresh opportunities for trade and investment in Odisha."

At the event, it was also emphasized that the global steel giant POSCO, which previously withdrew from the state following extensive protests, is making a comeback to Odisha with the assistance of the 'double engine government.'

In collaboration with a prominent group, the company plans to construct a mega steel facility in Keonjhar district, with investments exceeding Rs 50,000 crore. The plant's initial capacity will be 6 million tonnes, eventually increasing to 12 million tonnes.

Keonjhar was selected due to its robust infrastructure, including road, air, rail, water, and power connectivity. To draw more investments, the Odisha government has been hosting roadshows in Delhi, Mumbai, and Singapore, with another planned in Hyderabad soon.

With an attractive incentive package and a pro-business industrial policy, Odisha is establishing itself as a prime destination for both national and international investors.

CM Majhi also commended the recent approval of two semiconductor initiatives in Bhubaneswar during the last Union Cabinet meeting.