Kalyani Steel signs MoU with Odisha Government for multi-billion-dollar manufacturing complex

In a stride towards advancing Odisha's industrial landscape, Kalyani Steel has inked a historic Memorandum of Understanding (MoU) with the Government of Odisha, underscoring their joint commitment to establish a state-of-the-art Titanium Metal and Aerospace Components Manufacturing, and Integrated Advanced Specialty Steel and Automotive Components Manufacturing Complex in the region.

The MoU signing ceremony, presided over by Chief Minister Naveen Patnaik, marks a milestone in Odisha's journey towards becoming a hub for cutting-edge manufacturing and high-tech industries.

The strategic collaboration between Kalyani Steel and the Odisha government entails the development of a comprehensive manufacturing complex situated at Gajamara, Dhenkanal.

According to a release by the Odisha CM's office, with an investment infusion of a staggering Rs 11,750 Crores, the project is poised to catalyze economic growth and generate over 10,000 job opportunities, thereby driving socio-economic development in the state.

CM Patnaik 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".

He added, "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."

Chief Minister Naveen Patnaik expressed his elation at the signing of this transformative partnership, emphasizing its strategic alignment with Odisha's vision of fostering innovation-led growth and creating avenues for high-skill employment.

He hailed the project as a landmark initiative that heralds Odisha's foray into advanced and precision manufacturing, positioning the state as a frontrunner in India's industrial landscape.

Moreover, the Chief Minister underscored the project's potential to catalyze the growth of micro, small, and medium enterprises (MSMEs), fostering a robust ecosystem of ancillary industries and original equipment manufacturer (OEM) suppliers.

CM Patnaik further 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."

He reiterated Odisha's unwavering commitment to skill development, highlighting Kalyani Steel's role in enhancing the capabilities of the local workforce in advanced manufacturing sectors such as metal downstream, automotive, and defense manufacturing.

Director of Kalyani Steels Limited, Amit Kalyani, echoed the sentiments of mutual growth and prosperity, emphasizing the company's enduring partnership with Odisha and its dedication to driving innovation and development in the region.

Kalyani 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."

The MoU signing ceremony was attended by Minister of Industries, Pratap Keshari Dev, Chairman of 5T and AONO, Kartik Pandian, along with other senior officials, signifying the collective commitment of the government and industry stakeholders towards realizing Odisha's potential as a preferred destination for transformative industrial projects.