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Updated February 13th, 2024 at 18:36 IST

Kalyani Group to invest Rs 26,000 crore in Odisha for aerospace manufacturing

The expected investment exceeding Rs 26,000 crore is set to catalyse a new era of industrial prosperity and employment opportunities within Odisha.

Business Desk
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Kalyani Steel Limited has unveiled plans to inject a staggering Rs 26,000 crore into the establishment of a cutting-edge titanium metal and aerospace components manufacturing facility, alongside an integrated advanced specialty steel and automotive components complex in Gajamara, Dhenkanal district.

The announcement received nod of approval from the state cabinet, which granted special incentives for the venture, recognising its status as Odisha's inaugural aerospace and defense manufacturing hub, as Chief Secretary P K Jena revealed during a media briefing.

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Expressing state government's commitment to fostering an environment conducive to innovation and growth, particularly within the aerospace, defence, and automotive manufacturing sectors, Jena stressed the transformative potential of these projects.

With an expected combined investment exceeding Rs 26,000 crore and the promise of generating over 12,000 jobs, the initiatives are set to catalyse a new era of industrial prosperity and employment opportunities within Odisha.

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Highlighting the ripple effects of vendor development, Jena underscored the subsequent employment prospects, particularly in high-end, high-skill domains, which are expected to pave the way for the state's youth.

Collaborations with local educational institutions such as ITIs and polytechnics aim to bridge skill gaps, with an emphasis on nurturing talent in auto-components, specialty steel, and alloys manufacturing sectors, positioning Odisha as a potential skill capital for emerging technologies.

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Moreover, the project's ecosystem is set to bolster local MSMEs and startups through vendor engagements, creating a ripple effect of additional employment and entrepreneurial avenues in the region.

(With PTI inputs)

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Published February 13th, 2024 at 18:36 IST

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