BHUBANESWAR : The state cabinet on Monday approved a special incentive package for the proposed titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex by Kalyani Steel Limited at Gajamara in Dhenkanal district.
With a combined investment of over Rs 26,000 crore and employment potential for over 12,000 people, the state is set to make a foray into aerospace and defence manufacturing sector, said chief secretary Pradeep Jena in his cabinet briefing.
He said Kalyani Steel being a major player in the aerospace and defence component manufacturing sector will bring Odisha into the global titanium products market where India’s share is expected to grow phenomenally in the coming years. This also provides Odisha with an opportunity to anchor auto-components manufacturing and attract OEMs in the auto sector, he added.
Jena said the project is expected to create over 12,000 jobs in the coming years. Further, vendor development will lead to significant employment opportunities in the subsequent years. The jobs will primarily be in the high-end skill sector which will open up new avenues for the youth of the state.
The diversity of roles - from manufacturing to management - will contribute significantly to human resource development in the state.
As the project will have the requirement of high-end high-skill jobs, this could be achieved in collaboration with local ITIs and polytechnics. Such tie-ups for upskilling in auto-components, specialty steel and alloys manufacturing sector will boost the skilling landscape, he said.
The chief secretary said that the project will bring in vendors in the areas of manufacturing and service sectors that will provide a boost to the local MSMEs and startups. This will further create additional employment and foster entrepreneurship in the region.
Other decisions
Rs 1,015 crore for SAMMPurNA scheme
Amendment of Telecom Infrastructure policy
Land to Santha Bhima Bhoi Mahima Alekh trust
High-level bridge on Mahanadi at Boudh
8 EHT grid sub-stations at Rs 538.57 crore