The Odisha government approved three major lab-grown diamond production projects as part of 20 significant industrial proposals totaling Rs.76,611.86 crore on Wednesday, marking the state’s entry into the worldwide gemstone manufacturing industry.

For the first time, the High-Level Clearance Authority (HLCA), led by Chief Minister Mohan Charan Majhi, sanctioned investments in lab-created diamond production, with all three initiatives suggested in Khordha district.

Kira Diam LLP plans to invest Rs.7,000 crore in a diamond production facility projected to create 5,100 jobs. Anjali Labtech Limited plans to invest Rs.1,617.50 crore, resulting in the creation of 2,000 jobs, while Grow Magnificent Private Limited will allocate Rs.1,200 crore and produce an additional 1,000 employment opportunities.

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The state approved investments in industries related to rare-earth and critical minerals, which are becoming vital for India's goals in clean energy and electric mobility.

N A N Magnetech Private Limited has been granted approval to establish a production facility for high-performance neodymium-iron-boron (NdFeB) magnets suitable for electric vehicles in Khordha or Cuttack, involving an investment of Rs.1,250 crore.

Larsen & Toubro Ltd is set to create a Rs.2,400 crore permanent magnet production plant in Ganjam, while World Titanium Industry Private Limited will allocate Rs.2,800 crore for a titanium dioxide slag and pigment production facility, also located in Ganjam.

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Tata Power Renewable Energy Limited obtained approval for a Rs.10,000 crore facility in Ganjam to produce solar ingots, wafers, and photovoltaic cells among green energy initiatives.

Saatvik Solar Industries Private Limited is set to create a solar photovoltaic cell manufacturing facility with an investment of Rs.1,709.81 crore.

In the pharmaceutical industry, Nectar Lifesciences Limited was granted approval for a Rs.1,170 crore production facility in Sambalpur, whereas Jupiter Wagons Limited plans to invest Rs.1,500 crore in a railway coach manufacturing plant in Jajpur.

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Rashmi Metallurgical Industry Private Limited has been granted approval for a Rs.15,000 crore integrated steel facility in Jajpur, boasting a capacity of four million tonnes per annum (mtpa), thus becoming the largest project sanctioned at the meeting.