Odisha secures Rs 2.43 lakh crore in investment proposals from UAE tour

Odisha Chief Minister Mohan Charan Majhi has concluded a high-level investment outreach mission to the United Arab Emirates, securing investment proposals totaling approximately Rs 2.43 lakh crore (US$25.44 billion). The five-day visit to Abu Dhabi and Dubai included 52 business meetings and several roundtable engagements with roughly 400 industry leaders.

The mission resulted in 24 Memoranda of Understanding (MoUs) and investment intents across diverse sectors, including green energy, AI data centers, LNG storage, logistics, steel, and tourism. Notable agreements include an MoU with CAZBAA Project Ventures FZCO for LNG storage, Rana Holdings Limited for green energy and rare earths, and Sharaf Group for housing. The state also noted increased investment from the IHC-Adani Group for an integrated aluminium project.

Beyond industrial growth, the mission facilitated engagement with the Odia diaspora in Dubai, where the Chief Minister met with over 800 community members to discuss cultural preservation. The state government aims to leverage these investments to transform Odisha into a $500 billion economy by 2036, with the current proposals expected to generate over 6.18 lakh direct jobs.