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New Indian Express
17-05-2025
- Business
- New Indian Express
CM Mohan Charan Majhi says Odisha needs to diversify economy beyond agriculture
BHUBANESWAR: Chief Minister Mohan Charan Majhi on Friday said Odisha needs to diversify its economy beyond agriculture and give more attention to the manufacturing sector for achieving all-round growth. Addressing the 70th foundation day celebration of the Odisha Mining Corporation (OMC), the chief minister said the goal of the state government is to develop a mixed economy that will be inclusive and have greater impact on all sections. 'Odisha has sufficient raw materials necessary to go for manufacturing in a big way. The previous governments failed to utilise the state's industrialisation potential. But our government has adopted a policy of value addition to mineral resources,' he said. The chief minister lauded the contribution of OMC in the economic prosperity of the state through its responsible mining practices which has raised more revenue and created employment opportunities. OMC has made tremendous progress since its inception, with turnover increasing from Rs 1 crore in the 1960s to Rs 23,600 crore in 2024-25. The corporation is now one of the top five mineral producing companies in the country. It has established itself as a profitable state PSU not only in Odisha but also across the country, Majhi said. Stating that Odisha has launched a drive for rapid industrialisation, the chief minister said through the e-auction platform of Steel and Mines department, industries can access over 80 per cent of their raw material requirement. He also emphasised the importance of workers in the state's development and thanked them for their contributions. Minister for Steel and Mines Bibhuti Bhusan Jena highlighted OMC's role in transforming Odisha's industrial landscape.
Time of India
25-04-2025
- Business
- Time of India
State targets 130MT annual steel production by 2030
1 2 Bhubaneswar: CM Mohan Charan Majhi on Friday announced ambitious plans to boost the state's steel manufacturing capacity to over 130 million tonnes annually by 2030, positioning Odisha as India's steel manufacturing hub. Speaking at the ' India Steel 2025 ' conference in Mumbai, Majhi highlighted that Odisha currently leads the nation in both crude and stainless steel production, with 54 integrated plants having a total installed capacity of 41.21 million tonnes per annum (MTPA). "We are transitioning from a model of resource extraction to value creation," stated Majhi, emphasising the state's commitment to developing a comprehensive metal-based manufacturing value chain. The ambitious target would require around 190 million tonnes of iron ore to be made available within the state. The CM assured investors of sufficient mineral resources, noting that Odisha contributes 55% of India's iron ore production . The state is now auctioning eight major mineral blocks with a combined resource of 323 million tonnes and plans to auction 22 more blocks by March 2026. "Following the 2015 MMDR Act amendment, we successfully auctioned 44 major mineral blocks. We are now proceeding with more auctions to strengthen our mineral sector," said Majhi. The CM emphasised Odisha's contribution to India's mineral production, noting that the state accounts for 47% of the total output. He projected that Odisha's share in iron ore production would increase from the current 58% to 70% by 2030-31, with production reaching 240-245 million tonnes. To support the growth, the Odisha Mining Corporation aims to increase its iron ore production to 75 million tonnes by 2029-30. State govt has also implemented a long-term 'Linkage Policy' to ensure transparent and timely raw material supply to end-users. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo The announcement aligns with India's vision for 2047 and comes amid significant infrastructure investments in railways, highways, airports and ports in the state. In the conference organised by the ministry of steel, CM Majhi chaired a session on 'State Roundtable: Odisha — Focusing on Expanding Steel Production and Raw Material Supply'. India's top steel producers, including Tata Steel, JSPL, JSW, SAIL, AM/NS and others, participated in the session.
