13 Companies Withdraw Industrial Projects in Odisha, Says Minister

Bhubaneswar: Thirteen major companies that had signed Memorandums of Understanding (MoUs) with the previous Biju Janata Dal (BJD) government in Odisha have withdrawn their proposed industrial projects, Minister of State for Industries Sampad Chandra Swain informed the Assembly on Friday.

Responding to a query from MLA Aswini Kumar Patra, Swain revealed that these companies had initially committed to establishing industries in various sectors across the state but later backed out, citing multiple reasons.

The list of companies includes notable names such as ArcelorMittal India, POSCO, Maharashtra Seamless, Sterlite Industries, Tata Power, Aarti Steel, Angul Energy (formerly Bhushan Energy), CESC, Kalinga Energy and Power, and RSB Metallics.

Among the largest proposed investments were ArcelorMittal’s Rs 40,000 crore steel project and POSCO’s Rs 51,000 crore initiative, which were expected to bring significant industrial development to the state.

However, the minister emphasized that no industrial projects have been canceled under the present government, signaling a shift in investor confidence. Speaking to media outside the Assembly, Swain said, “We are committed to ensuring that proposed projects are executed efficiently under the current government.”

On the progress of ArcelorMittal Nippon Steel’s ongoing project, the minister stated that key infrastructural works are advancing swiftly. The tehsildar has already advertised for land transactions, road construction to the project site is progressing, and power connectivity is expected within the next 18 months.