Odisha Makes Foray Into Aero, Defence Sectors With MoU For Rs 26000-Crore Kalyani Steels Project

OB Bureau

Bhubaneswar: Odisha made a foray into automotive, aerospace and defence sectors by signing an MoU for Rs 26,000-crore Kalyani Steels project at Lok Seva Bhawan here in presence of Chief Minister Naveen Patnaik on Friday.

Kalyanai Group will be setting up a titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex at Gajamara in Dhenkanal district. It will be investing Rs 6,626 crore in 0.7 MTPa manufacturing complex for steel and auto parts and another Rs 5,124 crore in aerospace and defence parts plant.

According to sources, the project work will commence in September over 1,100 acres of land identified at Gajamara for the steel plant. The target is to complete the construction work and start production within 24 months. A total of Rs 11,750 crore would be invested in the first phase of the project, which is likely to generate employment opportunities for 10,000 people in the state.

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. “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 crore, this venture is set to revolutionise our industrial landscape, providing over 10,000 job opportunities in highly skill-oriented trades.”

The CM further said that this project will also catalse 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.”

“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,” he added.

Kalyani Steels Limited Director Amit Kalyani underscored the project’s significance as a milestone in their long standing relationship with Odisha, promising mutual growth and prosperity. “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,” he said.

Minister of Industries Pratap Keshari Deb said the plant at Gajamara will be a specialised steel factory where aerospace and automotive components and equipment to be used in defence including in missiles will be manufactured. “We are proud and thankful to Kalyani Group for choosing Odisha for establishing a first-of-its-kind industry in eastern India,” he said, adding that the state was chosen since it has raw materials, good infrastructure and a pool of young talent.

The Minister informed that the plant, which would be constructed in two phases, will increase the scope of small and medium scale industries of the state as well.

Chairman 5T Kartik Pandian, and other senior officers attended the programme.

Earlier this month, the JSW group had signed a Memorandum of Understanding with the Odisha government for establishment of an Integrated Electric Vehicle (EV) and EV Battery manufacturing project at an investment of Rs 40,000 crore in the state. While an EV vehicle, and component manufacturing plant will come up at Naraj in Cuttack district, a copper smelter and lithium refinery will be set up at Paradip in Jagatsinghpur district.





OB Bureau

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