Odisha Government signs MoU with Kalyani Steel Limited

Bhubaneswar: The Odisha Government signed an MoU (Memorandum of Understanding) with Kalyani Steel on friday. With this, another successful chapter in the sector of investments in the state.

The MoU between Odisha Government and Kalyani Steel will see an investment of Rs 26,000 crore. This will further help in creating over 12,000 employment opportunities in Odisha.

This project will take Odisha forward in the field of automotive, aerospace, and defence. Kalyani Steels will be manufacturing Titanium metal and Aerospace equipment.

Similarly, Kalyani Steel will also set up an integrated advanced speciality steel and automotive manufacturing complex in the state. It is noteworthy mentioning that the complex will be set up in Gajamara area of Dhenkanal district in Odisha.

Earlier on February 20, the Odisha Government had signed another MoU with JSW Group to set up First Mega Scale Integrated Electric Vehicle and EV Battery manufacturing project in the State.

In a landmark move set to strengthen Odisha’s position in the electric vehicle (EV) sector, JSW Group has signed a Memorandum of Understanding with the Government of Odisha for the establishment of an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project at Cuttack and Paradeep.

While at Cuttack, there will be EV Vehicle, and Component Manufacturing plants; in Paradeep, it will set up copper Smelter and Lithium Refinery.

This historic moment marks JSW Group’s strategic entry into Odisha, amidst competitive offers from other states.

The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for our youth, marking a significant growth in employment generation in the state.

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