Bhubaneswar: Odisha’s three-day investor outreach in the UAE has brought investment proposals worth around Rs 2.43 lakh crore across multiple sectors, with the state government expecting the initiatives to generate up to eight lakh direct and indirect employment opportunities, Industries Minister Sampad Chandra Swain said.

Reacting after the conclusion of the UAE visit, Swain described the outreach as an “unprecedented success” for Odisha and said it would help fulfil the state’s objective of attracting greater foreign direct investment (FDI).

The three-day programme, led by Chief Minister Mohan Charan Majhi from September 9 to 11 across Abu Dhabi and Dubai, resulted in 24 Memoranda of Understanding (MoUs) and Investment Intents. The delegation held 32 one-on-one investor meetings and round-table engagements with UAE-based investors, global business leaders, sovereign and institutional stakeholders, diplomatic representatives and members of the Odia diaspora.

“The UAE visit has brought unprecedented success for Odisha. We had expected an increase in FDI in the state, and the Dubai visit will help fulfil that objective. MoUs and investment intents involving 24 projects have brought investments worth Rs 2,43,062 crore, which can create around eight lakh direct and indirect jobs,” Swain said.

He said the investor outreach would give fresh momentum to Odisha’s development and investment landscape.

“The objective with which we went to the UAE has been achieved. In the coming days, work will begin towards ground-breaking of these projects,” the minister said.

The investment proposals span sectors including LNG storage, green energy, artificial intelligence and data centres, rare earths, housing, steel and downstream industries, ship repair, propellant manufacturing, fertilisers and chemicals.

CAZBAA Project Ventures FZCO signed an MoU for LNG storage, while Rana Holdings Limited entered into an MoU covering green energy, AI data centres and rare earths. Sharaf Group signed an MoU in the housing sector, and PTCL Infrastructure entered into an agreement for steel and steel downstream industries.

Investment intents were also received from Dalwin Marine and Turbo Power Engineering for ship repair, Ion Technologies Pvt. Ltd. for a propellant manufacturing plant, and Agrifields FZCO for fertilisers and chemicals.

The UAE outreach began in Abu Dhabi with high-level meetings involving government, sovereign, institutional and business stakeholders. A key engagement involved International Holding Company (IHC) and Adani Group, with discussions 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 (IBPG) and held institutional discussions on investment and infrastructure opportunities. Discussions with Borouge focused on the potential development of a petrochemical downstream ecosystem in Odisha.

On the second day, the outreach expanded to sectors such as IT and ESDM, agro and food processing, steel and downstream manufacturing, logistics, skilling, rare earths, circular economy, chemicals and aluminium.

Majhi also held discussions with UAE leadership and industry representatives and visited Emirates Global Aluminium to examine advanced aluminium manufacturing, technology and value-addition practices that could be relevant to Odisha’s downstream industrial ecosystem.

The outreach concluded with the Odisha Investors’ Meet – UAE 2026 in Dubai, attended by around 400 business leaders, investors and members of the UAE business community.

Swain also highlighted the state government’s investment performance over the past two years, saying the process of converting investment commitments into projects was already underway.

He claimed that projects worth around Rs 3.20 lakh crore had already reached the ground-breaking or inauguration stage within two years and hit out at the Opposition for questioning the government’s investment record.

“Opposition parties should understand that within two years we have achieved ground-breaking and inaugurations on a scale comparable to what they achieved in 10 years. They should speak after looking at the facts and figures,” Swain said.

He added that MoUs had been signed across a wide range of sectors and expressed confidence that the inflow of foreign investment would provide a fresh impetus to Odisha’s industrial growth.

The state government said the UAE outreach was aimed at strengthening Odisha’s global investment profile and attracting capital, technology, manufacturing partnerships and access to international markets.