Odisha has successfully emerged as the “Destination of Choice”, for units in the metal and mining sector over the years. The growth of the state has primarily been scripted due to the investment boom in the metals sector which serves as the backbone of the manufacturing sector.
Odisha, being among the top iron ore producers in the country, is a forerunner in steel production in the country. The state has adopted a ”More from Ore” approach by identifying and implementing stable reforms across the sector that has propelled the steel production of the state by leaps and bounds.
Currently Odisha has an installed capacity of about 33.36 Million Tons of annual steel production with a planned vision of achieving more than 130 Million Tons of annual steel production by 2030. The big mining conglomerates, have their footprint, in the state and have played a major role in this massive growth of Iron ore mining and Steel production in Odisha.
7 Nos. of Mega Greenfield Integrated Steel projects (Capacity > 1 MTPA) have been approved by the State Government for a total approved capacity of 61.7 MTPA and a proposed investment of INR 2,67,321 Cr. Whereas, 9 Nos. of Mega Brownfield Expansion (Additional Capacity > 1 MTPA) of existing Integrated Steel Plants have been approved by the State Government for a total Additional Capacity of 37.67 MTPA, worth INR 1,83,698 Cr. Thus with a total investment of INR 4,51,019 Cr. the additional production in Odisha will be catalyzed by the Greenfield plants as well as Brownfield ramp-ups.
The mega investments in Odisha are driven by the business-friendly ecosystem, which is known for its prudent Governance under 5T framework. Odisha has ranked in Achiever Category among the states in Ease of Doing Business through its hassle-free and transparent investment process. The GO-SWIFT system, which has own silver prize under the National award for e-Governance, enables 52 services under 18 departments online under a single window, is one such example. Therefore, Odisha welcomes with open arms every large, medium, small, and micro industry to join hands with the Steel & Mines Department, Government of Odisha and help achieve its vision of making Odisha the fastest growing Steel hub of the Country.
