Adani, UAE Giant To Invest $11.5 Billion In Odisha

At a time when Odisha lost some big projects to neighbouring Andhra Pradesh, this huge investment from Adani Enterprises and UAE’s International Holding Company has given a big boost to the BJP-run Odisha government. Chief Minister Mohan Charan Majhi has every reason to feel happy particularly as there are many of his own partymen trying to show him in a bad light…and would ideally like him to go. Though the mining initiative is denuding into the rich forest reserves of Odisha, the state needs developments too. Adani’s JV with UAE proposes to invest $ 11.5 billion in Odisha to set up an integrated aluminium project which includes green energy plant, ship building and steel plant. These projects are expected to create 53,000 new jobs. It is considered one of the largest FDI projects so far in Odisha. Now political commentators are giving all kudos to CM Majhi’s core team. However, Opposition Biju Janata Dal has labelled the big MOU investment figure as exaggerated political propaganda rather than realized capital.