Odisha has signed an agreement with Abu Dhabi-based International Holding Company (IHC) and the Adani Group to explore 14 projects involving an estimated investment of ₹2.1 lakh crore. The agreement was signed during Chief Minister Mohan Charan Majhi’s three-day investment outreach in the UAE.
The proposed projects are expected to create around 8.68 lakh employment opportunities, according to the Odisha government. The estimates remain subject to feasibility studies, approvals and the signing of definitive agreements.
The projects cover several areas of Odisha’s industrial economy. Plans include metal downstream industries and slurry pipelines. Other proposals focus on critical minerals, rare earths, chemicals and petrochemical derivatives.
The agreement builds on an earlier MoU signed in July for an integrated aluminium project. Land has been identified in Rayagada district for an alumina refinery and in Sundargarh district for an aluminium smelter.
Majhi also held discussions with Borouge CEO Hazeem Sultan Al Suwaidi on a large chemicals downstream complex in Odisha. The proposed facility could use feedstock from Indian Oil Corporation’s planned naphtha cracker project at Paradip.
During the UAE visit, the Odisha government also signed a cooperation agreement with the Indian Business and Professional Group (IBPG). The agreement aims to strengthen trade and investment ties between Odisha and UAE-based businesses, with a focus on expanding exports from the state.
