Kalyani Group to invest Rs 26,000 cr in Odisha
The state cabinet on Monday evening approved a special incentive for the unit as it is going to be the first aerospace and defence manufacturing complex in Odisha
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BHUBANESWAR: Kalyani Steel Limited 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 Odisha’s Dhenkanal district, an official said on Tuesday.
The state cabinet on Monday evening approved a special incentive for the unit as it is going to be the first aerospace and defence manufacturing complex in Odisha, Chief Secretary PK Jena said while briefing media persons here.
He said the state is committed to foster a conducive environment for growth and innovation, particularly in the high-potential sectors of aerospace, defence and automotive manufacturing.
The projects, with a combined investment of over Rs 26,000 crore and employment potential of over 12,000, are set to usher in a new era of industrial growth and job creation in the state, Jena said.
Further vendor development will lead to significant employment opportunities in the subsequent years. The jobs will primarily be in the high-end high-skill sector and will open up new avenues for the youth of Odisha, he added.