Odisha Cabinet approves special incentive package of over Rs 6600 crore for Welspun Group’s projects
Odisha Cabinet has approved a special incentive package for the Welspun Group’s ambitious projects in Choudwar of Cuttack district and Nildugri of Sambalpur district.
Bhubaneswar: In a major decision that promises to significantly boost the industrial and economic landscape of Odisha, the State Cabinet has approved a special incentive package for the Welspun Group’s ambitious projects in Choudwar of Cuttack district and Nildugri of Sambalpur district. These projects, with a combine investment of over Rs 6600 crore and employment potential of over 2000, are set to usher in a new era of industrial growth and job creation in the state.
Revitalising textile industry and employment in Choudwar of Cuttack:
- The Integrated Textiles Manufacturing Unit in Choudwar, with an investment of Rs 3000 Crores, is going to revive the textiles manufacturing tradition at Choudwar. This project is expected to generate over 10,000 direct job and an equal number of indirect job, significantly impacting the socio-economic fabric of the region. The diversity of roles created will span from manufacturing to management in the area. the Group will also set up a modern multi-modal warehousing complex through their group company Welspun One on the same premises which will be utilized to provide both captive and commercial services and create further job opportunity.
Enhancing Agricultural Productivity and Farmer welfare:
- A key aspect of the Choudwar project is its backward integration with the agricultural sector, particularly benefitting cotton farmers in the Kalahandi-Balangir-Koraput region. This integration aims to improve crop yields, ensure fair pricing, and improve supply chain efficiencies, thereby improving the agricultural value chain in the state. The initiative is expected to lead to better price realization for farmers and enhanced quality of produce, making a significant step towards agricultural advancement and farmer welfare. The intervention will not only augment the livelihoods of farmers but also support the state’s efforts in crop diversification, thereby enhancing the overall agricultural productivity and sustainability in Odisha.
Fostering Indusial Growth in Nildungri, Sambalpur:
- The establishment of the Plastic Product Manufacturing Unit and DI Pipe Making Unit in Nildugri, Sambalpur, with an investment of over Rs 3600 crore, is set to create a large number of employment opportunities in the region. This project, being the first major initiative in the Biju Economic Corridor, is expected to further stimulate the growth of ancillary industries, creating additional job prospects for the local population.
Ms Kalinga