Odisha Secures Rs 11,750 Crore Investment From Kalyani Steel For High-Tech Manufacturing Hub

Kalyani Steel Limited has inked a memorandum of understanding (MoU) with the Odisha government to establish a manufacturing facility with an investment of Rs 11,750 crore.

This project, situated in Gajamara, Dhenkanal district, aims to manufacture titanium metal, aerospace and automotive components, and advanced speciality steel, generating 10,000 job opportunities, as per a report by The Economic Times.

Chief Minister Naveen Patnaik stated that this collaboration will enable the state to become a major creator of high-skill jobs.

He stated, "By welcoming Kalyani Steels' project, including a titanium metal and alloy mill, an aerospace components facility, and an integrated automotive component unit, Odisha marks its grand entry into a highly advanced and precision manufacturing sector."

Patnaik also highlighted that the project aligns with their vision of fostering an ecosystem conducive to modern industries.

He further noted that it would also stimulate the growth of micro, small, and medium enterprises, encouraging the development of an active ecosystem of ancillary industries and OEM suppliers, thus generating more job opportunities.

Amit Kalyani, director of Kalyani Steels Ltd, expressed that this project signifies a significant milestone in the company's longstanding association with Odisha, promising mutual growth and prosperity.

He added, "By starting our operations in Odisha's dynamic environment, we strive to establish a mutually beneficial connection, promoting both development and innovation, while creating a wealth of opportunities for high-skill employment."