Bhubaneswar, Jan 29: In a major development, the Govt of Odisha has signed MoUs with six major companies, with all the investment coming for renewable energy sector.

Deputy Chief Minister KV Singh Deo has informed about the development, which will be a big boost for state's energy sector.

"We have acquired investments of Rs 4,33,000 crore for renewable energy sector. Six major companies have signed MoUs (Memorandum of Understandings) with the Govt of Odisha," said Singh Deo, who holds the Ministries of Agriculture and Farmers' Empowerment, Energy.

Reportedly, the six companies include Mahanadi Coalfields Limited (MCL), NLC India Limited, Indian Oil Corporation Limited (IOCL), ONGC Tripura and REC Limited.

Singh Deo has said that the project works will begin within seven months' time.

The state government is optimistic over more investments, with an aim to surpass Rs 5,00,000 crore in fundings. Interestingly, more than Rs 4,00,000 crore investment has already been secured in energy sector itself.

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