This cosmopolitan town is fast emerging as the economic hub of Odisha; the state government has formed a master plan for the city's development. Jharsuguda has a unit of Ultratech Cement of the Aditya Birla Group at Dhutra, which is India's largest cement manufacturing company. Many small- and medium-scale steel units are being set up in the town vicinity, including Bhushan Power & Steel Limited (Thelkoloi village), SMC Power Generation Ltd., Action Ispat Ltd., Eastern Steel & Power Ltd., TRL Krosaki Refractories Limited and SPS Steel & Power Ltd. A few large-scale units of Vedanta Alumina Ltd and Utkal Alumina International Ltd will be setting up units in the area.
Vedanta Aluminium Limited (VAL), currently setting up a 0.5 million-tonne aluminium smelter and 135*9 MW captive power plant at Jharsuguda in Orissa, has chalked out a massive 4.6 billion dollar expansion for the project.
Reliance Energy has proposed to set up a 12,000 MW thermal power plant at a cost of Rs 48,000 crore (Rs 480 billion) at Hirma in the Jharsuguda district of Orissa.
Sterlite Energy Limited is developing a 2,400 MW power plant at Jharsuguda.
Orissa Power Generation Corporation Ltd (OPGC) established IB Thermal Power Station having two units of 210 MW each in the Ib valley area of Jharsuguda and is developing a 1,220 MW power plant at same place.
The state plans to set up an airport at Jharsuguda.
In recent years Jharsuguda district has witnessed a large scale Industrialization
