Tata Steel has announced that Odisha will become its single largest investment destination following the completion of the second phase expansion of its Kalinganagar steel mill, which will increase production capacity from 3 million tonnes per annum (mtpa) to 8 mtpa. The expansion, valued at $3.21 billion, is nearing completion and is set to be commissioned soon.

This development is crucial for Tata Steel's goal of achieving a total capacity of 40 mtpa in India by 2030. The company's investments in Odisha now exceed $12 billion, including the Tata Steel Meramandali plant in Dhenkanal district. Tata Steel also sees potential to further increase Kalinganagar's capacity to 16 mtpa in the future, enhancing Odisha's significance in the company's growth strategy.