Odisha receives ₹8,417 crore investment intents from 13 UAE companies and industry groups, with proposals expected to create 14,310 jobs
OdishaPlus Bureau
Odisha received investment intents worth more than ₹8,417 crore on the second day of its investor outreach in the UAE, with 13 companies and industry groups proposing projects across sectors including agro and food processing, steel and downstream manufacturing, IT and ESDM, logistics, rare earths, chemicals, aluminium and circular economy.
The proposed investments are expected to generate around 14,310 jobs, according to the state government.
Among the major proposals, K Raheja Corp Real Estate Pvt Ltd signed an MoU for a proposed investment of ₹4,000 crore in the IT and ESDM sector, with an estimated employment potential of 10,000.
Advanta Seeds FZCO proposed an investment of ₹800 crore in agro and food processing, expected to create around 650 jobs. PTCL signed an MoU proposing ₹300 crore in steel and downstream manufacturing, with an estimated 350 jobs.
In logistics, Sharaf Group proposed an investment of ₹500 crore and an estimated 500 jobs, while Transgreen Agro and Logix Pvt Ltd, part of the Transworld Group, expressed interest in investing ₹300 crore in food processing.
Emerging sectors also attracted investment interest. PGI Group proposed ₹300 crore in the rare earth sector, with an estimated employment potential of 1,000, while MTC Group expressed interest in investing ₹75 crore in the circular economy sector.
The chemical sector attracted proposals from Cafa Amines and Globcom International FZE, amounting to ₹952 crore and ₹500 crore respectively. Man Corp PTE Ltd proposed to invest ₹520 crore in the aluminium sector.
Other proposals included ₹100 crore from Hidayath Group and ₹70 crore from Khiara Group in steel and downstream manufacturing. World People Solutions Pvt Ltd, part of Transworld, signed an MoU to explore opportunities in the skilling sector.
Earlier, Chief Minister Mohan Charan Majhi met UAE Cabinet Member and Minister of Economy and Tourism Abdulla Bin Touq Al Marri and chairman of the Council of International Investments. The discussions focused on strengthening economic and investment ties between Odisha and the UAE and exploring opportunities for UAE-based businesses in the state.
Majhi highlighted Odisha’s business environment, industrial ecosystem and sectoral investment potential, and invited UAE-based investors to participate in the state’s industrial expansion.
At a roundtable with stainless steel downstream industries in Dubai, the Chief Minister highlighted opportunities for greater value addition and downstream manufacturing, leveraging Odisha’s natural resources and established industrial base.
He also held separate meetings with Sharaf Group president and CEO Shyam Kapur and Transworld managing director Ritesh Rama Krishnan to discuss potential investments and business opportunities.
The roundtable was attended by representatives of PGI Group UAE, MTC Group, Hidayath Group, Khiara Group and PTCL Infra, with discussions focusing on stainless steel and downstream manufacturing.
The latest investment proposals come a day after the Adani Group and Abu Dhabi-based International Holding Company (IHC) signed agreements with Odisha to explore 14 projects involving an estimated ₹2,10,500 crore investment.