Due to the growing global demand for steel, Orissa, renowned for its substantial reserves of untapped iron ore within the country, is emerging as a significant investment hub. Recognizing the unparalleled demand for iron ore, the State government aims to seize this opportunity and has forged strategic alliances by signing Memorandums of Understanding (MoUs) with both international and domestic steel manufacturers.

The state government of Orissa signed the Memorandum Of Understanding (MoU) with both international and domestic steel makers for which reason?

Both options, 1 and 2.

The State government hopes to cash in on this unprecedented demand for iron ore and has signed a Memorandum of Understanding (MoU) with both international and domestic steel makers. The government believes that this would bring in necessary capital investment and provide a lot of employment opportunities.