Make in Odisha Conclave 2018 bags investment worth Rs 4,19,574 crore

The Make in Odisha Conclave 2018 received an investment intent of Rs 4,19,574crore, with the maximum coming from Haldia Petrochemicals.

The second edition of the Make in Odisha Conclave 2018, a flagship biennial global investors' meet, is being held in the state capital Bhubaneswar. Odisha Chief Minister Naveen Patnaik announced that it received an overall investment intent of Rs 4,19,574 crore across 15 sectors, with claims to create up to 5,91,000 additional jobs.

The theme of the conclave, 'I am Odisha', intended to convey the achievements and success of the state and its citizens to the global community.

The conclave has seen a participation of more than 5,000 industry captains so far, with delegates from across the country and abroad, and experienced a footfall of up to 31,000. Japan is the partner country for the event.

"The second edition of the MIO Conclave 2018 has been a defining moment in the history of industrialisation of Odisha. I am confident that the policy ecosystem and the investment opportunities showcased, and the deliberations held at the various sessions would help the state emerge as the most preferred investment destinations in the country," said Patnaik.

The top two investment proposals were received from Haldia Petrochemicals (Rs 70,000 crore), in the fertilizer, refinery, petrochemical, chemical and plastics department and with potential employment of 31,000; and Jindal Steel and Power (Rs 60,950 crore) in the minerals, metals and metal downstream with potential employment of 3,41,650.

The Aditya Birla Group will be investing Rs 14,500 crore, the Indian Oil Corporation Rs 10,273 crore and TATA Steel will invest Rs 10,000 crore. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, committed to invest Rs 3,000 crore in Odisha over the next three years.

Sanjeev Chopra, Principal Secretary of Industries Department, Government of Odisha, said, "The response has been overwhelming. The focus of the conclave was not to just propel the industrial development further but to also provide a platform for the stakeholders to engage with the State Government, to deliberate on the next phase of overall socio-economic growth of the state."

The Chief Minister also announced the dates of the next edition of the conclave, which will be held between November 30 and December 4, 2020.

The Make in Odisha Conclave promises to further the vision of the state to broad base the industrial growth with investment proposals in several sectors including chemical and fertilisers, petrochemical, food processing, healthcare, tourism, renewable energy and electronics.