In a significant step towards strengthening Odisha’s industrial ecosystem and accelerating its transition into high-technology manufacturing, the State Cabinet has accorded approval to a comprehensive and transformative investment proposal by the Kalyani Group.
Key highlights of the Cabinet decision are as follows:
The approval marks Odisha’s entry into high-technology and new-age manufacturing sectors, including Aerospace, Defence, Advanced Automotive Manufacturing, and Specialty Materials.
While the Kalyani Group’s earlier engagement with Odisha was centred on titanium-related activities, the current approval represents a major expansion and diversification, encompassing an integrated and end-to-end industrial value chain.
The approved proposal comprises three interlinked projects with a cumulative investment of approximately ₹17,250 crore, and is expected to generate around 12,000 direct and indirect high-skilled employment opportunities.
Kalyani Steels Limited will establish an Integrated Advanced Specialty Steel Project at Gajamara, Dhenkanal, with a production capacity of 7,00,000 tonnes per annum (TPA) of advanced specialty steel, and 10,000 TPA of titanium alloy manufacturing capacity.
Saarloha Advanced Materials Private Limited will set up a dedicated facility for the manufacture of Superalloys, Titanium alloys, Specialty steel rolled products, and advanced specialty metal powders, further strengthening downstream value addition.
Bharat Forge Limited will establish a state-of-the-art casting, forging, and precision machining facility to manufacture high-value components catering to Aerospace, Automotive, and Green energy sectors.
To facilitate the project, the State Government has approved a special incentive package, including 45% Capital Investment Subsidy on plant and machinery, in accordance with applicable industrial policies.
The cabinet-approved project ensures complete vertical integration within Odisha, covering the entire manufacturing lifecycle, from raw material processing to finished high-precision components.
The project is expected to catalyse the development of a robust MSME ecosystem, enabling local enterprises to participate as suppliers, vendors, and service providers within the emerging high-technology industrial cluster.
This landmark investment further reinforces Odisha’s positioning as a leading destination for advanced manufacturing and a Skill Capital for New-Age Technologies, aligned with the State’s long-term industrial development vision.