Business Odisha, Cuttack (2026)

05/07/2026

approves revamp to unlock private and improve operational efficiency

The Odisha government has approved a comprehensive restructuring of the ODISHA TOURISM DEVELOPMENT CORPORATION LIMITED (OTDC), marking a major policy shift aimed at making the state agency commercially viable and investment-focused. The revamp will reposition OTDC as a facilitator for tourism infrastructure development, expand public-private partnership ( ) projects, strengthen destination , and improve operational efficiency.

The move aligns with the Odisha Tourism (Amendment) Policy 2026, which seeks to attract higher private investment through incentives such as 100% stamp duty exemption, -duty waivers, and faster single-window clearances for tourism projects. The policy also envisages OTDC playing a larger role in developing tourism infrastructure, promoting lesser-known destinations, operating quality hospitality assets, and marketing the state globally.

More Details: https://business-odisha.in/tourism/odisha-approves-otdc-revamp-to-unlock-private-investments-and-improve-operational-efficiency/

05/07/2026

aOdisha Extends Policy 2021: Continue Till Sept 2026

In a major boost to and in , the state government has officially extended the validity of the Odisha Electric Vehicle Policy, 2021, until 30th September 2026.

The Commerce and Transport Department issued the notification on 30 June 2026, exercising powers under Paragraph 11.5 of the original policy. The extension ensures that all incentives, , and facilitations for remain active in this period.

Key Highlights:
- Purchase subsidies for electric 2W, 3W, and 4W.
- Incentives for EV manufacturing units and component makers setting up in Odisha.
- Scrapping incentives for replacing old internal combustion vehicles with EVs
- Interest subvention on loans for EV buyers and manufacturers.
- Exemptions from road tax and registration fees.

The policy aims to accelerate adoption, reduce , create in the green sector, and position Odisha as a preferred destination for investments.

This timely extension comes at a crucial time when demand for electric vehicles is surging across India. Stakeholders — from EV manufacturers and dealers to consumers and operators — can now continue availing benefits without uncertainty.

More Details: https://business-odisha.in/uncategorized/odisha-extends-electric-vehicle-policy-2021-incentives-continue-till-sept-2026/

04/07/2026

Fortis Healthcare enters with 300-bed through partnership with Group

Limited has proposed to establish a 300-bedded, state-of-the-art hospital at Trisulia, , with an investment of ₹500 crore. The project will also include and , creating an integrated ecosystem for quality healthcare, , and .

The proposed investment is expected to strengthen Odisha's healthcare , generate opportunities, and further reinforce the state's position as an emerging destination for world-class healthcare and medical .

Fortis Healthcare has signed an Operations and Management (O&M) agreement with Group, one of Odisha's leading and development groups, for a 300-bed greenfield multi-specialty hospital to be developed in Trishulia, Cuttack, Odisha.

Once operational, the facility will serve as a major tertiary care destination for Odisha and neighbouring regions, bringing advanced expertise, cutting-edge medical technology, and globally benchmarked healthcare services closer to .

More Details: https://business-odisha.in/healthcare/fortis-healthcare-enters-odisha-with-300-bed-hospital-through-partnership-with-dion-group/

04/07/2026

Infrastructure Secures Rs 21.46 crore Contract in

ARSS INFRASTRUCTURE PROJECT LIMITED has received a work order of Rs 21.46 crore for improvement such as widening and strengthening of Dengapola to Champahat via Jantakothi-Podana- Tandikul, Naulo and Sorishpokhari road from 0/000 km to 14/647 km (except from 10/340 km to 10/970 km) in the district of Jagatsinghpur under state plan from office of the superintending Engineer, Jagatsinghpur (R&B) Division, Jagatsinghpur.

More Details: https://business-odisha.in/other/arss-infrastructure-secures-rs-21-46-crore-road-contract-in-odisha/

04/07/2026

National Aluminium Company Limited - NALCO plans to around Rs 28,000 crore in next 3-5 years to expand its production capacity through a new aluminium and a 1,000 MW captive power plant.

The company's Chairman and Managing Director Brijendra Pratap Singh said is expanding its aluminium production capacity from 0.46 million tonnes to 0.96 million tonnes. The investment will be around Rs 17,000 crore for the smelter and around Rs 10,000 crore for the plant.

Outlining the company's roadmap, Mr. Singh said NALCO aims to meet 30% of its total power requirement through power by 2030 to reduce carbon emissions while balancing production costs. NALCO currently has 198 MW of power across four locations and 1 MW of capacity. The company is adding another 7 MW of , exploring projects and sourcing 150 MW of from during daytime, which is expected to reduce its by around 4-4.5 per cent.

On critical minerals, Mr. Singh said NALCO, through Khanij Bidesh India Ltd ( ), is advancing exploration projects in . Invasive exploration is underway following completion of non-invasive , and by October-November 2027 the company expects to know the quality of the lithium resource and whether commercial mining would be viable.

He added that NALCO is also working with the Bhabha Atomic Research Centre (BARC) and Heavy Water Board (HWB) for recovery of from Bayer liquor and also working with CSIR Institute of Minerals and Materials Technology and National Metallurgical Laboratory Jamshedpur for recovery of elements like from Red Mud.

The company is also developing the Potangi mine, with an of around Rs 2,000 crore, to supply ore to the expanded .

More Details: https://business-odisha.in/investment/nalco-plans-to-invest-around-rs-28000-crore-in-next-3-5-years-to-expand-its-aluminium-production-capacity-through-a-new-aluminium-smelter-and-a-1000-mw-captive-power-plant/

04/07/2026

Hon'ble Chief Minister of Odisha Shri Mohan Charan Majhi welcomed the distinguished and described the Memorandum of Cooperation with IHI Corporation and ACME Group as a significant milestone in strengthening the enduring partnership between and . CMO Odisha Office

04/07/2026

NEEPCO, GRIDCO sign PPA for Heo, Tato-I and Tato-II hydro projects with 1,126 MW of installed capacity.

NORTH EASTERN ELECTRIC POWER CORPN LTD (NEEPCO India) and Grid Corporation of Odisha Limited ( ) have signed a Power Purchase Agreement ( ) for the procurement of from the 240 MW Heo, 186 MW Tato-I and 700 MW Tato-II projects in Arunachal Pradesh. The agreement, signed on June 30, 2026, provides for the supply of to GRIDCO for 40 years from the Commercial Operation Date ( ) of the .

The agreement provides long-term offtake for the three hydroelectric projects, which together have a planned installed capacity of 1,126 MW.

The 240 MW Heo Hydro Electric Project is located in Shi Yomi district and is being developed by NEEPCO in partnership with the Government of Arunachal Pradesh. The project received approval from the Cabinet Committee on Economic Affairs ( ) in November 2024 with a sanctioned investment of Rs 1,939 crore.

The 186 MW Tato-I Hydro Electric Project will also be developed in Shi Yomi district. Estimated to cost Rs 1,750 crore, the project will have three generating units of 62 MW each. It is scheduled for completion in 50 months and is expected to generate 802 million units (MU) of electricity annually.

The 700 MW Tato-II Hydro Electric Project, approved by the CCEA in August 2025, will comprise four generating units of 175 MW each and is expected to generate 2,738.06 million units of electricity annually over an estimated construction period of 72 months. The total approved is Rs 8,146.21 crore.

The PPA was signed on behalf of NEEPCO by Ripunjoy Bhuyan, In-charge Executive Director (Commercial), and on behalf of GRIDCO by Debasish Das, Director (Commercial).

Energy Department, Government of Odisha

03/07/2026

Adani Group, UAE's plan $11.5 billion (INR 1.10 lakh Crore) project in

Adani Enterprises Limited Ltd (AEL) and Abu Dhabi-based International Resources Holding (IRH), an IHC group company signed a memorandum of understanding ( ) on 2nd July with the Odisha government through ePointZero to develop the project. ePointZero is a subsidiary of International Holding Company ( ).

The proposed investment is the largest in Odisha and the biggest in the country's & sector. Odisha, home to some of India’s ‌largest reserves, accounts for 54 per cent of the country’s aluminium output.

The project is expected to create 53,500 , with 35,000 during and another 18,500 once ‌operations begin.

The project, to be set up at Rayagada in Sundargarh district. Designed as a fully integrated aluminium value chain, the proposed project will include a 4-million-tonne-per-annum , a 2-million-tonne , a 4,000-MW captive plant (including 400 Mw of ), a 1-million-tonne downstream aluminium manufacturing , along with supporting industrial and .

More Details: https://business-odisha.in/industry/adani-group-uaes-ihc-plan-11-5-billion-inr-1-10-lakh-crore-aluminium-project-in-odisha/

CMO Odisha Office Ministry of Mines, Govt of India Gautam Adani Karan Adani Syed Basar Shueb

02/07/2026

cabinet approves over Rs 2,000-crore deep mission to boost

The Odisha government on 1st july approved a fishing with an outlay of over Rs 2,000 crore, aiming to transform the state into a leading hub

The mission seeks to promote sustainable deep-sea fishing, modernise marine , enhance exports, and strengthen the fishing community’s . An estimated Rs 2,295.45 crore will be spent to implement the mission over 2026-2036.

It will be implemented in a phased manner through convergence of central schemes, state support, beneficiary participation, institutional finance and public-private partnership ( ). The state will set up a dedicated Blue Economy Hub (B-Hub) to function as the mission’s , and centre.

The project is expected to generate an additional 2 lakh metric tonnes of marine fish production annually, create over 50,000 opportunities, substantially enhance the income of marine and increase Odisha’s marine exports to around Rs 5,000 crore per year by 2036.

More Deatils: https://business-odisha.in/economy/odisha-cabinet-approves-over-rs-2000-crore-deep-sea-fishing-mission-to-boost-blue-economy/

02/07/2026

- JV secures $5 billion support for project

This funding is earmarked for two key initiatives, including one of India's largest green ammonia projects in Odisha. This development marks a crucial step towards vital sectors.

ACME Group and IHI Corporation's joint venture has secured support under Japan's price gap subsidy programme. The project, with a capacity of 405,000 tonnes per annum (TPA), is being established at Tata Steel SEZ Ltd. Industrial Park in Gopalpur district, Odisha. It will receive about $3 billion under the contract-for-difference (CfD) programme, according to the Japanese government's estimates.

Japan will provide price support for 228,000 TPA of clean ammonia supply capacity from the Gopalpur project, helping bridge the cost gap between green and ammonia for various Japanese off-takers for a 25-year period starting September 2030.

Additionally, 177,000 TPA of the Gopalpur project's capacity has also been earmarked under Japan's Long-Term Decarbonised Power Source Auction ( ) to further underpin project assurances for the joint venture to supply decarbonised fuel to Japan's sector over the long term. The project is expected to be commissioned by July 2030.

"These approvals provide long-term revenue visibility across our green ammonia portfolio and materially strengthen the bankability of our projects," said Anil Kumar Taparia, chief executive officer of ACME Group Green Business.

ACME Group is building another green ammonia project in , Odisha, with a production capacity of 800,000 TPA, to be commissioned by 2029. The company has signed a Green Ammonia (GAPA) with the Solar Energy Society of India (SESI) for 370,000 TPA. A further 83,000 TPA has now been awarded under the LTDA programme for supplies to Japan.

More Details: https://business-odisha.in/energy/acme-ihi-jv-secures-5-billion-japanese-support-for-odisha-green-ammonia-project/

Ministry of Economy, Trade and Industry New Energy and Industrial Technology Development Organization (NEDO) Energy Department, Government of Odishat, Government of Odisha CMO Odisha Office Vishal Dev Manoj Upadhyay

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