Bhubaneswar: Odisha gained massive investments for industrial and energy sectors from the Adani Group and Jindal Steel that are going to be making transforming revolutions in the state’s infrastructure and economy. The Adani Group has committed a monumental Rs 2.3 trillion over the next five years in sectors like energy, infrastructure, and industries. There would be other projects including the power and cement sectors, at the same time, a massive expansion of Adani Ports to execute logistics and connectivity by turning Odisha as a major economic hub.
In a similar manner, Jindal Steel is also making an investment of a stumbling amount as Rs1 lakh crore. The company aims to increase its production capacity by 25 million tonnes and to become the largest single-location steel facility in the world.
Notably, Sangamam Power has signed a Memorandum of Understanding (MoU) with the Government of Odisha for a Rs7,000 crore investment to establish a Pumped Storage Project which is supposed to enhance energy storage capacity, improve grid stability, and play a very important role in the transition to renewable energy, marking a major transformation in Odisha’s energy future.
These heavy investments from the three big companies, Adani Group, Jindal Steel, and Sangamam Power will expedite the industrial growth of Odisha at the same time generate more and more employment by boosting the state’s economic and development.
-OdishaAge
