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Kalyani Group to invest Rs 26,000 cr for components manufacturing in Odisha

Wednesday, 14 Feb 2024
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Kalyani Steel has proposed to invest Rs 26,000 crore to set up a titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex at Gajamara in Dhenkanal district of Odisha. The State Cabinet on 12 February, 2024 approved a special incentive for the unit which will be the first aerospace and defence manufacturing complex in Odisha.

The project has an employment potential of over 12,000 to spur industrial growth and job creation in the state. This would fuel the high-end high-skill sector, and in collaboration with local ITIs and polytechnics, these tie-ups for up-skilling in the auto-components, specialty steel and alloys manufacturing sector is expected to advance the state in new-age tech skills.

The project will bring in vendors in the areas of manufacturing and service sectors and bolster local MSMEs and start-ups, which will further create additional employment and entrepreneurship in the region. The state government will provide all necessary support for these projects, to foster a conducive environment for growth and innovation, particularly in aerospace, defence and automotive manufacturing sectors.

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