Key Points

The CRRR will be a 111-km six-lane road project with an estimated cost of Rs 8,342 crore.

The project is expected not only to ease traffic flow but also boost Bhubaneswar's development as a textile and software hub, thereby strengthening Odisha's economic prospects.

Speaking at the ceremony, Chief Minister Majhi said: "I express my heartfelt thanks to Prime Minister Narendra Modi for granting approval to the Capital Region Ring Road project. This transformative project will ensure smoother connectivity, accelerate industrial growth, and open new avenues for trade and investment in Odisha."

During the event, it was also highlighted that global steel major POSCO, which had earlier exited the state due to massive protest, is returning to Odisha with the support of the 'double engine government'.

The company in a joint venture with a leading group is set to establish a mega steel plant in Keonjhar district with an investment of over Rs 50,000 crore. Initially, the plant will have a capacity of 6 million tonnes, which will later be scaled up to 12 million tonnes.

Keonjhar has been chosen as the site due to its strong infrastructure facilities including road, air, rail, water, and power connectivity. To attract more investments, the Odisha government has been conducting roadshows in Delhi, Mumbai, and Singapore, and is planning another in Hyderabad soon.

With its attractive incentive package and investor-friendly industrial policy, Odisha is positioning itself as a preferred destination for national and international investors.

CM Majhi also praised the approval of two semiconductors in Bhubaneswar during the last meeting of the Union Cabinet.

- IANS