Odisha Forest Development Corporation Ltd (OFDC) came into being with effect from 14.11.90 by merge of all three forest corporations of the state, namely Odisha Forest Corporation (1962), Odisha Composite Board (1983), Simlipal Forest Development Corporation (1979) and Odisha Plantation Dev. Corporation (1983). On Merger it was named as OFDC Ltd.

Odisha Forest Corporation has been created in 1962 with the objective of exploiting the state's vast forest resources scientifically without sacrificing the apparent forest values, ensuring a fair wage to forest labour force and to provide sufficient non-tax revenue to the State exchequer, as well as to promote feasible forest based industries in the state. The OFDC is fully owned by Government of Odisha. Its authorized capital and paid up capital are Rs. 500 lakhs and Rs. 128 lakhs respectively.

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