Bhubaneswar, April 8 (NationPress) The Odisha government on Tuesday executed several Memoranda of Understanding (MoU) that are set to draw significant investments into the state during the second day of Chief Minister Mohan Charan Majhi’s two-day visit to New Delhi.

During his time in New Delhi, CM Majhi has engaged in numerous one-on-one talks with prominent industry leaders since Monday and participated in an Investors’ Meet at Taj Palace.

“In total, 13 MoUs were established, culminating in an investment of Rs 98,880 crore, significantly boosting the state's capabilities across various sectors. These initiatives are anticipated to create approximately 67,000 job opportunities, promoting regional economic growth and enhancing industrial activities. Additionally, 15 investment proposals were received, with total investment offers reaching Rs 1,03,090, facilitating job creation for 95,915 individuals,” stated the state government.

In a notable achievement, the state government has entered into an MoU with Indian Oil Corporation Ltd (IOCL) to set up a Dual-Feed Naphtha Cracker Project.

This significant agreement is projected to attract investments exceeding Rs 58,042 crore, creating jobs for 24,000 individuals.

Alongside the MoU with IOCL, agreements were also made with Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG. These collaborations underline Odisha’s strategic importance in India’s petrochemical sector and demonstrate a commitment to sustainable industrial development, import substitution, and a resilient supply chain.

CM Majhi’s visit to New Delhi has been characterized by strategic partnerships and engagements aimed at accelerating economic development and establishing Odisha as a key hub for industry, particularly in petrochemical and technology sectors. These discussions illustrated a substantial investor interest in launching manufacturing operations to support local economic growth and job creation.

Moreover, dialogues with the Association of Indian Manufacturers of Medical Devices (AIMED), Toy Association of India, United States India Business Council, among others, emphasized the increasing interest in diverse sectors such as medical devices and apparel.

In his keynote speech at the investors meet, the Chief Minister underscored Odisha’s aspiration to emerge as a petrochemical and manufacturing hub.

He urged business leaders, stating that now is the opportune moment to invest in Odisha.

“The MoU signed today with the Indian Oil Corporation Ltd marks a pivotal moment in Odisha’s industrial journey. It signifies not only a shared vision but also a robust faith in the state’s capacity to spearhead India’s petrochemical advancements from the east. Paradip, with its strategic location and developing infrastructure, is set to evolve into a transformative industrial center, akin to the Dahej port in the west (Gujarat). Odisha is prepared, and we welcome you to invest in our promising future,” stated Majhi.