Interview Times 
FEATURE: In the heart of Odisha’s burgeoning industrial sector, one name stands out as a beacon of visionary leadership and relentless innovation—Pankaj Lochan Mohanty. As the Chairman and Managing Director of MGM Minerals Ltd., Mohanty has redefined the parameters of industrial growth by intertwining business success with social responsibility. Under his stewardship, the MGM Group has emerged as a powerhouse, not only in the iron and steel sector but also in diverse ventures such as renewable energy, textiles, luxury hospitality, and healthcare. This story delves into the remarkable journey of MGM Group, highlighting how Mohanty’s forward-thinking strategies and commitment to community development have reshaped Odisha’s industrial and social fabric.
Founded in 1939, MGM Group began its journey under the leadership of the visionary Late Shri M.G. Mohanty. Initially focusing on mining iron and manganese ore, the group has steadily grown into a multi-faceted enterprise. The incorporation of MGM Minerals Ltd. in 1996 marked a significant milestone, paving the way for the establishment of integrated steel plants and diversified business ventures. Today, the group stands tall as a testament to its founders’ enduring legacy, with Pankaj Lochan Mohanty at the helm, steering it toward unprecedented growth and sustainability.
MGM Group’s iron ore mines, boasting an annual capacity of 1.5 million tonnes, are a cornerstone of Odisha’s industrial might. With high-grade ore enriched with over 64% Fe content, the company has earned a six-star rating from the Indian Bureau of Mines and numerous ISO certifications. In Dhenkanal, the group operates an integrated steel plant equipped with state-of-the-art technology, including a 0.105 MTPA sponge iron plant and an 8 MW waste heat recovery boiler. Plans are underway to transform this facility into a mini-steel plant with a capacity of over 40 million tonnes, creating direct employment for over 1,000 individuals.
The recent acquisition of Patnaik Steels and Alloys Ltd. (PSAL) further bolsters MGM Group’s capabilities. Located in Keonjhar, the plant’s production capacity of 1.10 lakh tonnes of sponge iron annually complements the group’s expansion goals. With these developments, MGM’s turnover is projected to soar from ₹1,000 crores to ₹1,500 crores, solidifying its position as a leader in the iron and steel industry.
Under Mohanty’s leadership, MGM Group has ventured into sectors that align with contemporary environmental and social imperatives. The establishment of a 200 KLPD ethanol manufacturing plant in Boudh is a shining example of this commitment. With zero waste and zero discharge, the facility underscores MGM’s dedication to sustainable industrial practices while providing employment to over 350 people in the region.
The group’s foray into renewable energy includes plans for a 10 MW solar power project, marking its entry into the green energy sector. Additionally, MGM Biofuels Pvt. Ltd. exemplifies the group’s innovative spirit, setting new benchmarks for environmentally conscious business operations.
MGM Group’s diversification extends to the textile industry, where a new garment factory is set to employ over 1,000 women. This initiative not only fosters economic empowerment but also contributes to rural development in Odisha.
Mohanty’s passion for sports is equally noteworthy. As President of the Odisha Cricket Association, he has championed the cause of nurturing young talent. The partnership with Ravi Shastri’s Coaching Beyond Academy reflects MGM’s commitment to creating opportunities for athletes to shine on national and international platforms. The establishment of the MGM School of Sports, with a budget of ₹40 crores, further highlights this vision, offering world-class infrastructure and training facilities for budding sports stars.
Odisha’s tourism sector is witnessing a renaissance, and MGM Group is playing a pivotal role in this transformation. The upcoming 5-star luxury hotel and resort in Puri, developed in collaboration with Hyatt Hotels and Resorts, is a testament to the group’s ambition. With an investment of ₹150 crores, this premium segment hotel is expected to generate significant employment opportunities and elevate Odisha’s tourism landscape.
Mohanty’s leadership is defined by a profound sense of social responsibility. MGM Group’s CSR initiatives encompass education, healthcare, skill development, and heritage preservation. The group’s partnership with IIT Bhubaneswar to establish the “MGM Professor of Eminence” chair and its support for CIPET Bhubaneswar’s skill development programs exemplify this ethos.
One of the most impactful CSR projects is the MGM Cornea Centre, developed in collaboration with the L.V. Prasad Eye Institute in Bhubaneswar. With an investment of ₹5 crores, the center aims to provide advanced eye care services to underserved communities. Additionally, the group’s donation of ₹1 crore toward the Shree Mandira Parikrama Project in Puri underscores its commitment to preserving Odisha’s rich cultural heritage.
With a clear vision for the future, Pankaj Lochan Mohanty is poised to lead MGM Group into new frontiers. Plans include expanding the integrated steel plant at Nimidha, launching new ventures in biofuels and textiles, and enhancing the group’s presence in hospitality and tourism. The group’s projected investment of ₹2,000 crores in various projects over the next five years reflects its unwavering commitment to Odisha’s growth and development.
Pankaj Lochan Mohanty’s journey is a testament to the power of visionary leadership and ethical business practices. By seamlessly blending industrial success with community welfare, he stands among the changemakers shaping Odisha’s industrial and social landscape. His unwavering dedication to innovation, sustainability, and philanthropy ensures that MGM Group’s legacy will endure for generations to come, leaving an indelible mark on the state’s progress and prosperity.
