By FMTeam In a significant boost to Odisha’s industrial landscape, the Adani Group has committed to investing ₹2.3 lakh crore over the next five years across various sectors, including power, cement, industrial parks, aluminium, and city gas distribution. This announcement was made during the ‘Utkarsh Odisha-Make in Odisha Conclave,’ inaugurated by Prime Minister Narendra Modi.
Details of the Investment
Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ), met with Odisha Chief Minister Mohan Charan Majhi to formalize the investment through a Memorandum of Understanding (MoU). While specific project details were not disclosed, the investment is expected to significantly enhance Odisha’s infrastructure and industrial capabilities.
Impact on Odisha’s Economy
This substantial investment is anticipated to create numerous employment opportunities and stimulate economic growth in the state. The focus on diverse sectors aims to bolster Odisha’s industrial ecosystem, contributing to its development and prosperity.
Adani Group’s Presence in Odisha
The Adani Group has been expanding its footprint in Odisha. In March 2024, APSEZ acquired a 95% stake in Gopalpur Port, located in the Ganjam district, for approximately ₹1,349 crore. This strategic acquisition is expected to enhance the group’s operations on India’s east coast and strengthen its integrated logistics framework.
State’s Investment Landscape
The ‘Utkarsh Odisha-Make in Odisha Conclave’ witnessed the signing of 54 MoUs, with proposed investments exceeding ₹5 lakh crore. The Adani Group’s commitment of ₹2.3 lakh crore is the largest among these proposals, underscoring the state’s attractiveness to major investors.
Future Prospects
The Adani Group’s investment aligns with Odisha’s vision for industrial growth and economic development. As these projects materialize, they are expected to transform the state’s industrial landscape, fostering innovation and creating a more robust economy.
This significant commitment by the Adani Group marks a pivotal moment in Odisha’s industrial journey, promising substantial advancements in infrastructure and economic prosperity.