News Brief
First Aerospace And Defence Manufacturing Complex in Odisha — Kalyani Steel To Invest Rs 26,000 Crore
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Kalyani Steel Limited has proposed a substantial investment of Rs 26,000 crore to establish a titanium metal and aerospace components manufacturing facility, along with an integrated advanced specialty steel and automotive components manufacturing complex in Gajamara of Odisha's Dhenkanal district as per a report by The Economic Times.
This initiative marks the first aerospace and defence manufacturing complex in Odisha, receiving special incentives from the state cabinet, as announced by Chief Secretary P K Jena during a media briefing in Bhubaneswar.
The state government aims to create a conducive environment for growth and innovation, particularly in high-potential sectors like aerospace, defence, and automotive manufacturing.
The projects, with a total investment exceeding Rs 26,000 crore and the potential to generate over 12,000 jobs, signify a significant leap in industrial growth and job creation in Odisha, according to Jena.
Additionally, the development of vendors is expected to create substantial employment opportunities in the coming years, particularly in high-end, high-skill sectors.
Collaboration with local ITIs and polytechnics will ensure the availability of skilled manpower for the auto-components, specialty steel, and alloys manufacturing sector, potentially positioning Odisha as India's skill capital for new-age technology.
The project will attract vendors from the manufacturing and service sectors, stimulating growth in local MSMEs and start-ups, thereby generating additional employment and fostering entrepreneurship in the region.
The state government is fully supportive of this collaboration with the Kalyani Group and is committed to providing all necessary assistance for the successful implementation of these projects.
"We are excited about the potential benefits these initiatives will bring to the people of Odisha, marking a significant milestone in the state's journey toward becoming a center of manufacturing excellence," Jena concluded.
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