Odisha Forays Into Aerospace, Defence & Automotive Manufacturing Sectors With Spl Package For Kalyani Steel
Bhubaneswar: Besides pre-poll sops like Rs 1,000 one-time assistance to all ration card holders and interest-free loans up to Rs 1 lakh to 2 lakh youths, the Odisha Cabinet also approved a special incentive package for the proposed titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex at Gajamara in Dhenkanal district.
The significant decision marks the foray of Odisha into aerospace, defence and automotive manufacturing sector.
Briefing the media, Chief Secretary Pradeep Jena said that these projects of Kalyani Steel Limited 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. “Kalyani Steel is a major player in the aerospace and defence component manufacturing sector. It will bring Odisha into the global titanium products market where India’s share is expected to grow phenomenally in the coming years. This will also provide Odisha with an opportunity to anchor auto-components manufacturing and attract OEMs in the auto sector,” he said.
The Chief Secretray further said that these project would require high-end high-skill jobs, which can be achieved in collaboration with local ITI and Polytechnics. “These tie-ups for up-skilling in auto-components, specialty steel and alloys manufacturing sector will boost Odisha’s skilling landscape and has the potential to make Odisha the Skill Capital of India for New-Age Tech,” he said.
The projects will bring in vendors in the areas of manufacturing and service sectors that will provide a boost to the local MSME’s and start-ups, he added.