UAE investors ink MoUs worth Rs 218 bn with Orissa

06 Jul 2022 CW Team

United Arab Emirates investors have signed memorandums of understanding (MoUs) worth $2.76 billion (Rs 218 billion) with the Odisha state government after meeting Chief Minister Naveen Patnaik in Dubai. Patnaik recently concluded an investment roadshow in the city, including an Investor’s Meet, where he met some of UAE’s key business groups to attract foreign direct investment (FDI).

The business groups that met Patnaik included the Lulu Group, NBTC Group, Sharaf Group, Twenty Fourteen Holding and Tablez Group, ERAM Group, Sobha Group, Arab and India Spices LLC and Tabreed.

The Investors Meet was jointly organised with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Embassy of India in the United Arab Emirates.

The announcement comes after the state approved more than 250 large-scale industrial and infrastructure project proposals worth $50 billion in sectors such as metals and metal downstream, chemicals and petrochemicals, textiles and apparel, food processing, logistics and clean energy in the last two years, UAE media reported.

The investment proposals include a Rs 15 billion investment by UAE-based multinational retail conglomerate Lulu Group International, which signed an MoU to explore investment opportunities in Odisha to set up hypermarkets, shopping malls and agriculture and seafood sourcing and processing hubs in Bhubaneswar, Cuttack and Rourkela.

Also Read:
India, EU conclude first round of trade negotiations
UP government to introduce a new MSME policy soon

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..