OSL Group to Invest ₹200 Crore in Multiplex Project at Paradip as Odisha Sees ₹1.06 Lakh Crore Port-Linked Investments
Paradip emerges as a key hub for maritime and industrial growth under India Maritime Week 2025
Bhubaneswar: In a major boost to Odisha’s infrastructure and entertainment sector, the OSL Group (Odisha Stevedores Limited) is set to invest ₹200 crore to develop a state-of-the-art multiplex complex in Paradip. The announcement came during the second day of India Maritime Week 2025 in Mumbai, where the Paradip Port Authority (PPA) signed several Memorandums of Understanding (MoUs) worth ₹1.06 lakh crore with leading national and international companies.
The MoUs were inked during a high-profile session titled “Ports as Engines of Transformation”, attended by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, along with senior government and industry officials.
OSL Group Expands Its Footprint in Paradip
The OSL Group’s multiplex project, estimated at ₹200 crore, marks a significant diversification for the company known primarily for its stevedoring, logistics, and port-related services. The project will focus on boosting lifestyle and recreational infrastructure in Paradip — a port city increasingly emerging as a key industrial and maritime hub.
The new facility will be developed close to the expanding port area and is expected to feature premium entertainment, retail, and hospitality components. According to OSL officials, the investment aligns with the group’s long-term vision of supporting Paradip’s transformation into a vibrant business and leisure destination.
OSL Group’s Chairman Mahimananda Mishra has consistently emphasized the company’s commitment to contributing to Odisha’s economic development through both industrial and social infrastructure projects. The Paradip multiplex will not only serve the city’s residents and port workers but also cater to a growing population of business travellers, ship crew, and industrial professionals visiting the port region.
Massive Investments Under the Green Hydrogen and Infrastructure Push
While OSL’s project stood out for its focus on infrastructure diversification, the event also witnessed the announcement of large-scale investments in green hydrogen and port infrastructure.
Under the Green Hydrogen initiative, several global firms have pledged massive investments — ACME with ₹45,000 crore, HIF with ₹35,500 crore, Sembcorp with ₹13,000 crore, OCIOR with ₹4,700 crore, and Avaada with ₹3,000 crore. In addition, HUDCO will invest ₹5,100 crore in core infrastructure projects in and around Paradip.
PPA Chairman P.L. Haranadh, who presided over the MoU signing ceremony, lauded the enthusiasm shown by private players such as OSL Group and others. “These partnerships reflect the growing trust in Odisha’s maritime potential. Paradip is fast becoming a major growth engine for the region’s economy,” he said.
Continued Momentum from Earlier Investments
This new round of investment follows MoUs worth ₹50,000 crore signed by Paradip Port Authority on the opening day of the summit. Those agreements included collaborations with the Odisha Maritime Board, IPRCL, IFFCO, and NTPC for projects such as an international cruise terminal in Puri, railway connectivity to the proposed Bahuda Port, a maritime museum, logistics parks, and renewable energy initiatives.
With the cumulative investment commitments now exceeding ₹1.5 lakh crore over two days, the Paradip region is on track to become one of India’s most dynamic maritime-industrial corridors.
Paradip’s Rise as a Maritime Powerhouse
The series of agreements signed at India Maritime Week 2025 underscores the strategic importance of Paradip as a maritime and logistics hub driving both economic and sustainable growth. OSL Group’s diversification into the entertainment sector through the Paradip multiplex project symbolizes the city’s transition from a purely industrial port to a multifaceted urban hub that integrates industry, commerce, and community living.
As Odisha continues its journey toward becoming a leading investment destination in eastern India, OSL’s project represents the private sector’s confidence in the state’s growth story — one that blends infrastructure development, green energy, and lifestyle transformation in equal measure.
