Odisha concluded its three-day investment outreach in the UAE on Friday with ₹2,43,162 crore (₹2.43 trillion) in investment proposals and the potential to create 618,725 jobs. The outreach generated 24 investment proposals, including 8 MoUs and 16 investment intents after 52 business meetings, including 46 one-to-one investor meetings and 6 round-table discussions. According to Business Standard, the state secured investment proposals worth ₹2,10,500 crore on Day 1 in Abu Dhabi, ₹8,417 crore on Day 2, and ₹24,245 crore on Day 3 in Dubai. The outreach brought together more than 400 UAE-based investors, global companies, sovereign and institutional stakeholders, Indian diplomats and the Odia diaspora.
The concluding day in Dubai attracted significant proposals including CAZBAA Project Ventures FZCO signing an MoU for LNG storage with a proposed investment of ₹1,100 crore. Rana Holdings Limited signed agreements covering green energy, AI data centres and rare earths with a cumulative investment of ₹18,000 crore. Ion Technologies Pvt Ltd proposed a propellant plant with an estimated investment of ₹2,700 crore. In the ship-repairing sector, Dalwin Marine proposed an investment of ₹800 crore while Turbo Power Engineering proposed ₹100 crore. Agrifields FZCO proposed an investment of ₹950 crore for fertilisers and chemicals. The day also saw PTCL Infrastructure entering into an MoU for steel and downstream industries.
The comprehensive outreach attracted investment interest across multiple sectors with ₹18,000 crore in green energy, followed by ₹5,102 crore in chemicals and petrochemicals, ₹4,020 crore in information technology and electronics system design and manufacturing (ESDM), ₹1,600 crore in logistics and infrastructure, ₹1,100 crore in agro and food processing, ₹900 crore in ship repairing, ₹600 crore in circular economy, ₹520 crore in aluminium, ₹470 crore in steel and steel downstream, ₹300 crore in rare earths, and ₹50 crore in engineering. As per Business Standard, discussions covered travel and tourism, logistics, financial investments, LNG storage, green energy, artificial intelligence and data centres, rare earths, ship repair, propellant manufacturing, fertilisers and chemicals, housing, and steel and downstream industries.
Chief Minister Mohan Charan Majhi emphasized that the UAE engagement was aimed at building long-term partnerships across manufacturing, trade, technology, exports, innovation, skills and entrepreneurship. He highlighted Odisha's advantages including mineral resources, competitive power availability, ports, industrial infrastructure, skilled workforce and established industrial base. During the outreach, Majhi visited Emirates Global Aluminium (EGA) and held discussions with UAE leadership on advanced aluminium manufacturing, technology and value addition that could support the development of Odisha's downstream aluminium ecosystem. The Chief Minister acknowledged that no factory could be built in a day, but every part of government could work with the urgency of one day, noting that Odisha has already brought down the time to set up an industry from around 400 days to under 160 days, with the next target of 100 days.
The UAE outreach began in Abu Dhabi with high-level meetings covering critical minerals and rare earths, metals and metallurgy, chemicals and petrochemicals, renewable energy equipment, healthcare, industrial infrastructure, tourism and skill development. The delegation also engaged with the Indian Business and Professional Group and held discussions with Borouge on the potential development of a petrochemical downstream ecosystem in Odisha. The concluding day in Dubai drew around 400 business leaders and investors and included an interaction with the Odia diaspora in Dubai, attended by more than 800 members of the community. The event showcased Odisha's cultural heritage through Odissi and traditional folk performances, alongside the state's 'One District One Product' offerings. The Odisha delegation included Anu Garg, chief secretary; Hemant Sharma, additional chief secretary of the industries department; Aboli Sunil Naravane, managing director of Ipicol; and Kalyan Mohanty, executive director of Ipicol.
