Bhubaneswar, Feb 24 (IANS): The Kalyani Steel Limited on Friday signed an MoU with the Odisha government on Friday in the presence of Chief Minister Naveen Patnaik for the establishment of a Titanium Metal and Aerospace Components Manufacturing, and Integrated Advanced Specialty Steel and Automotive Components Manufacturing Complex in Odisha.
As per the MoU, the multinational conglomerate will set up a comprehensive manufacturing complex at Gajamara in Dhenkanal district of the state.
Speaking on the occasion, CM Patnaik expressed his 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 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," Patnaik said.
He further stated that 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.
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."
Amit Kalyani, Director, Kalyani Steels Limited, underscored the project's significance as a milestone in their long standing relationship with Odisha.
"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," said Kalyani.
Minister of Industries, Pratap Keshari Dev, Chairman of 5T and Ama Odisha Nabin Odisha, VK Pandian, and other senior officers were also present at the event.