MoU with Kalyani Steel marks Odisha’s foray into automotive, aerospace & defence sectors


Bhubaneswar, February 23: In a major move set to redefine Odisha’s industrial landscape, Kalyani Steels Limited (KSL) on Friday signed a Memorandum of Understanding (MoU) with the State Government for the establishment of 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 in Dhenkanal district highlighting KSL’s foray into the State amidst keen interest from various regions.

This groundbreaking initiative, with an investment of Rs 11,750 crore is set to generate over 10,000 jobs.

Chief Minister Naveen Patnaik graced the MoU signing event.

Speaking on the occasion, CM Patnaik said, “This project is a perfect match for our aspirations for creating an ecosystem conducive to new-age industries.”

“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,” said Patnaik.

KSL Director and Bharat Forge Joint MD Amit 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.”

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.

The MoU signing ceremony was attended by Industries Minister Pratap Keshari Deb, 5T Chairman VK Pandian, among others.

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