BHUBANESWAR : The High Level Clearance Authority (HLCA) chaired by Chief Minister Mohan Charan Majhi on Saturday approved 10 investment proposals worth Rs 44,200 crore across semiconductor manufacturing, renewable energy, advanced materials, cement, automotive and telecom infrastructure. The projects will be implemented across eight districts and expected to create around 9,000 jobs.
A key approval is a Rs 4,620 crore semiconductor memory chip module plant by ASP Semicon in Khurda, which is expected to generate about 2,500 jobs and boost the state’s electronics manufacturing ecosystem. Magnova Pvt Ltd will invest Rs 1,050 crore to establish a high-performance rare earth magnet manufacturing facility in Khurda. These magnets are essential for electric vehicles, electronics and renewable energy technologies.
“The investments mark a decisive shift towards technology-driven sectors and will help position Odisha as a leader in advanced manufacturing,” Majhi said, emphasising the state’s goal of becoming a developed industrial economy by 2036.
Renewable energy projects account for a major share of the investment pipeline, with four pumped storage hydro projects getting approval. These include `9,731 crore by Adani Hydro Energy Twelve Ltd in Nayagarh, Rs 9,000 crore by Sangamam CD Hydro Consortium in Koraput, Rs 7,506 crore by Greenko IREP Pvt Ltd in Kalahandi, and Rs 3,711.56 crore by Jindal Green PSP Two in Deogarh.
In the manufacturing sector, Bharat Forge Limited will invest Rs 3,000 crore to establish an automotive, aerospace and defence components facility in Dhenkanal, creating about 1,000 jobs. In cement, NCL Industries Limited and Dalmia Cement (Bharat) Ltd will invest Rs 2,000 crore each in Koraput and Malkangiri. Telecom infrastructure firm Shreetech Data Limited-CLS will invest Rs 1,622 crore to establish a cable landing station in Puri.
“Investment attraction alone is not enough. Ensuring timely implementation and operationalisation of projects is equally critical,” Majhi said, urging officials to adopt a ‘Team Odisha’ approach.