Odisha Secured Rs 53,894-Crore Investment Proposals At India Chem 2026: CM

Odisha has secured investment proposals worth Rs 53,893.51 crore at ‘India Chem 2026’ in Mumbai, with the projects expected to generate over 20,000 employment opportunities, Chief Minister Mohan Charan Majhi said.

Majhi, who led the state's delegation to the event, made the announcement after arriving at the Biju Patnaik International Airport here from Mumbai on Friday evening.

"Nine MoUs and four expressions of investment intent were signed. These initiatives have brought investment proposals worth a total of Rs 53,893.51 crore to Odisha, which are expected to create 20,210 employment opportunities," he said.

The chief minister also announced that Odisha will host the event next year, after discussions with the Centre and the Federation of Indian Chambers of Commerce and Industry (FICCI).

During the Mumbai visit, Majhi held 25 one-on-one meetings with business leaders and representatives of companies, including POSCO India, JSW and Larsen & Toubro (L&T), as well as firms based in the US and the European Union, officials said.

The discussions helped the state government understand investors' requirements and familiarise them with the facilities and opportunities available in Odisha, Majhi said, adding that several companies expressed keen interest in investing.

Majhi said the outreach was part of the state's efforts to diversify its economy from a predominantly metal-based one towards the chemicals sector.

Odisha aims to build an integrated industrial ecosystem encompassing metals and downstream metal industries, chemicals, petrochemicals and plastics, he said.

Among the major investment proposals, NLC India Ltd plans to invest around Rs 36,763.51 crore in the chemicals and power sectors, and L&T signed an MoU for investments to the tune of Rs 8,100 crore, the CM said.

"Odisha is ready to be a major growth partner for L&T in eastern India. We invite the company to expand its manufacturing footprint, explore new opportunities in chemicals and petrochemicals, and strengthen its presence in engineering and technology," Majhi added.