Odisha has signed an MoU for ₹67,000 crore projects supported by Japan

Odisha Chief Minister Mohan Charan Majhi in a group photograph during an interactive meeting with business delegates from Japan at the Bhubaneswar Convention Center on July 4, 2026. | Photo credit: ANI

Odisha on Friday (July 3, 2026) signed a Memorandum of Cooperation (MoC) with ACME Group and Japan’s IHI Corporation for several projects, which together entail an investment of ₹ 67,000 crore. This comes a day after Adani Enterprises and the United Arab Emirates’ International Holding Company (IHC) group signed a memorandum of understanding with the state, marking its largest foreign direct investment (FDI).

The projects were aimed at supporting cooperation in the field of clean energy, advanced manufacturing and industrial development.

The MoC reflects the shared commitment of the Government of Odisha, IHI Corporation and ACME Group to explore opportunities for setting up large-scale clean energy and industrial projects in the state, leveraging Odisha’s resource strength, industrial ecosystem and policy support.

The collaboration is expected to facilitate technology transfer, promote sustainable industrialization and create significant employment and economic opportunities, the statement said.

According to a statement issued by the Industries Department, the proposed projects involve a cumulative investment of ₹ 67,000 crore and create employment opportunities for around 7,000 people in Odisha.

This includes a 0.4 MTPA green ammonia project at Gopalpur-Tata SEZ with an investment of ₹20,000 crore and employment potential of 3,400, along with associated pierless floating terminal infrastructure involving an additional investment of ₹1,000 crore.

Further, a 0.8 MTPA green ammonia project is proposed at Paradip with an investment of ₹ 34,000 crore and employment potential of 3,600, along with a methanol project involving an investment of ₹ 12,000 crore.

The MoU was signed in the presence of Chief Minister Mohan Charan Majhi and Industries Minister Sampad Chandra Swain and a group from the World Bank and representatives from Japan, which included senior management from IHI Corporation and Mitsubishi Gas Chemical Company.

“The MoU represents another significant step in strengthening the long-term economic partnership between Odisha and Japan. Combining Japan’s technological expertise with Odisha’s industrial strengths and strategic location, the collaboration is expected to accelerate investments in clean energy and advanced manufacturing while creating new opportunities for SMEs, ancillary industries, local businesses and skilled youth across the state,” the government said.

“Japan is one of India’s most trusted development and investment partners, recognized globally for its technological excellence, innovation and long-term commitment. The signing of this MoU with IHI Corporation and ACME Group marks another important milestone in Odisha’s industrial journey,” Mr. Majhi said, welcoming Japanese businesses.

Adani Enterprises and the IHC group on Thursday (July 2) signed a memorandum of understanding for projects such as an alumina refinery, an aluminum smelter and a power plant at various locations in the state.

Published – 04 Jul 2026 04:25 IST