Kalyani Steel Soars with Rs 26,000 Crore Odisha Investment

Kalyani Steel has unveiled plans for a substantial investment of Rs 26,000 crore towards establishing a cutting-edge titanium metal and aerospace components manufacturing facility alongside an integrated advanced specialty steel and automotive components manufacturing complex. This ambitious venture is slated to be situated in Gajamara, nestled within the Dhenkanal district of Odisha. Endorsed by the State Cabinet on February 12, 2024, the project has secured a special incentive, marking it as Odisha's pioneering aerospace and defence manufacturing hub.

Anticipated to generate over 12,000 employment opportunities, this initiative is poised to invigorate industrial growth and job creation within the state. It promises to catalyze the development of high-end, high-skill sectors, with collaborative efforts alongside local ITIs and polytechnics aimed at enhancing skill sets in auto-components, specialty steel, and alloy manufacturing. Furthermore, the project's ripple effect is expected to foster the growth of vendors within manufacturing and service sectors, fortify local MSMEs, and nurture startups, thereby igniting additional avenues for employment and entrepreneurship within the region.

The state government has pledged unwavering support to facilitate the success of these ventures, cultivating an environment conducive to growth and innovation, particularly within the aerospace, defence, and automotive manufacturing domains.

News by Rahul Yelligetti