A multinational company named HIF Global India of Chile has expressed it’s interest to investing around $ 1billion USD in Odisha’s renewable energy.

Bhubaneswar: 11/02/2025

Even after the Utkarsh Odisha Conclave, Odisha continues to enjoy a good investment indent. A multinational company named HIF Global India of Chile has expressed it’s interest to investing around $ 1billion USD in Odisha’s renewable energy. Today, a presentation on e-fuel production was made in front of Deputy Chief Minister, Minister of Agriculture and Farmers Empowerment, Energy Shri Kanak Vardhan Singh Deo at the Lok Seva Bhavan Conference Hall.

Nowadays, there is a great demand for biofuel. E-fuel has become a necessary component to protect the environment and maintain the balance in the ecosystem. HIF Global India Company is currently working in the field of methanol synthesis in countries like the United States of America, Chile, Uruguay, Australia. The Company has expressed it’s interest to invest around $ 1 billion US dollar for methanol synthesis project in Odisha. For this, the company is ready to invest as per the regulations given by the government. The multinational has been requested to provide 50 acres of land, water supply and electricity supply as required to establish the company.

Odisha is now 100 percent investment-friendly. We are ready to provide all kinds of facilities as per the government guidelines. We have an investment-friendly single window clearance system. You can also use it, Deputy Chief Minister Shri Singhdeo said.

If this project is implemented, it is estimated that more than 250 people will get employment in the operational phase and more than 500 people in the functional phase. And 3,50,000 tons of e-methanol will be produced annually. 95 percent carbon emissions will be reduced.

The meeting was attended by Principal Secretary Energy Department Shri Vishal Dev, IPICOL MD Shri Bhupendra Singh Poonia, senior officials of Tata Power and Power Department.