Odisha’s economic trajectory received a monumental boost following a three-day investor outreach in the United Arab Emirates, securing a staggering Rs 2,43,062 crore in investment proposals and projecting up to eight lakh direct and indirect jobs, Industries Minister Sampad Chandra Swain announced.
Describing the mission as an “unprecedented success,” Swain stated that the high-level delegation—led by Chief Minister Mohan Charan Majhi from September 9 to 11 across Abu Dhabi and Dubai—accomplished its core objective of supercharging foreign direct investment (FDI) into the state. The trip yielded 24 Memoranda of Understanding (MoUs) and investment intents through 32 one-on-one meetings and roundtable engagements with global business leaders, sovereign stakeholders, and the Odia diaspora.
Multi-Sectoral Expansion
The newly secured investment proposals span a diverse array of advanced and traditional industries, including LNG storage, green energy, artificial intelligence and data centres, rare earths, housing, steel downstream, ship repair, propellant manufacturing, and chemicals.
Key agreements include:
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CAZBAA Project Ventures FZCO for LNG storage.
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Rana Holdings Limited targeting green energy, AI data centres, and rare earths.
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Sharaf Group committing to the housing sector.
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PTCL Infrastructure focusing on steel and downstream manufacturing.
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Strategic intents from Dalwin Marine and Turbo Power Engineering (ship repair), Ion Technologies (propellant manufacturing), and Agrifields FZCO (fertilisers and chemicals).
Strategic Engagement in the Gulf
The outreach commenced in Abu Dhabi with high-level discussions involving the International Holding Company (IHC) and the Adani Group, exploring critical minerals, metallurgy, and renewable energy equipment. The delegation also met with the Indian Business and Professional Group (IBPG) and held talks with Borouge regarding petrochemical downstream ecosystems.
On subsequent days, the focus expanded to IT, ESDM, agro-processing, and logistics. Chief Minister Majhi also toured Emirates Global Aluminium to study advanced manufacturing practices applicable to Odisha’s growing industrial base. The mission concluded in Dubai with the Odisha Investors’ Meet – UAE 2026drawing roughly 400 business leaders and investors.
Defending the Government’s Track Record
Addressing the opposition, Minister Swain defended the administration’s economic performance, asserting that commitments are rapidly materialising on the ground. He claimed that projects worth approximately Rs 3.20 lakh crore have reached the ground-breaking or inauguration stage within the past two years.
With ground-breaking ceremonies for the UAE-backed projects slated to begin soon, the state government aims to cement Odisha’s position as a premier global manufacturing and technological hub.