Kalyani Steel signs MoU to invest Rs. 11,750 Crore in Odisha

Titanium Metal & Aerospace Components Manufacturing, Integrated Advanced Specialty Steel and Automotive Components Manufacturing Complex to Come Up Soon

Project a Perfect Match to Create Ecosystem for New-Age Industries

Odisha Enters Advanced, Precision Manufacturing- CM

Bhubaneswar , 23.02.2024: Kalyani Steel has signed an MoU with Govt. of Odisha today in the presence of Chief Minister Shri Naveen Patnaik for the establishment of a Titanium Metal & Aerospace Components Manufacturing, and Integrated Advanced Specialty Steel and Automotive Components Manufacturing Complex in Odisha.

This strategic partnership aims to set up a comprehensive manufacturing complex at Gajamara, Dhenkanal, highlighting KSL’s foray into the state amidst keen interest from various regions.

With an investment of Rs. 11,750 Crores it will generate over 10,000 jobs, significantly bolstering employment in Odisha.

Speaking on the occasion, the CM expressed enthusiasm for this collaboration, highlighting its alignment with the State’s vision to harness opportunities in emerging sectors for high-skill job creation.

He further said “By welcoming Kalyani Steel’s 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. With an investment of Rs. 11,751 Crores, this venture is set to revolutionize our industrial landscape, providing over 10,000 job opportunities in highly skill-oriented trades. This project is a perfect match for our aspirations for creating an ecosystem conducive to new-age industries.”

He further added, “This project will also catalyze the growth of MSMEs, spurring the development of a vibrant ecosystem of ancillary industries and OEM suppliers, providing many more employment opportunities. Therefore, this project is a perfect match for our aspirations for creating an ecosystem conducive to new-age industries.”

Highlighting on skill development, the CM added, “Kalyani Steel’s commitment to skill development will definitely ensure broad based benefits, elevating local workforce capabilities in advanced manufacturing sectors like metal downstream, automotive, and defence manufacturing.”

Director, Kalyani Steels Limited Shri Amit Kalyani, underscored the project’s significance as a milestone in their long standing relationship with Odisha, promising mutual growth and prosperity. He also said, “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. This reflects our strong belief in the potential of Odisha and our commitment to positively influence its economic framework.”

This partnership between Kalyani Steel and the Government of Odisha marks a significant milestone, positioning the state as a leading destination for innovative and sustainable industrial projects.

Minister of Industries Shri Pratap Keshari Dev, Chairman 5T and AONO Shri Kartik Pandian, and other senior officers attended the programme.