Kalyani Steel Limited on Friday announced that it has signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs 11,750 crore in the state.
It said that the company intends to set up a 0.7 MTPA Integrated Advanced Specialty Steel & Automotive Components Manufacturing Complex with an estimated investment of Rs 6,626 crore.
Kalyani Steel will also set up phase 1 of integrated titanium metal / alloy and aerospace & defense components manufacturing plant of 10,000 TPA capacity with an estimated investment of Rs 5,124 crore, in Odisha.
Earlier this month, Kalyani Steel had proposed to invest Rs 26,000 crore to set up a titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex at Gajamara in Odisha’s Dhenkanal district. The project has the potential of employing over 12,000 individuals in the state.