The stainless steel park being set up by Jindal Stainless (JSL) in Odisha is expected to attract investments of Rs 10,000 crore from small scale industries over the next five years. Further, the industrial park, which is expected to be operational in next two years, would also provide nearly 20,000 jobs.
In December last year, Odisha Chief Minister Naveen Patnaik had laid the foundation stone of the park, the country’s first stainless steel park, to be built by JSL on a 271-acre land in Kalinganagar.
“We are in the process of developing the ecosystem around the park, and then we will invite companies to come and set up shop in the park. The park is expected to be completed in the next two years, we are being supported by the Odisha government, with JSL making the investments,” JSL MD Abhyuday Jindal said.
“This park – Jindal Stainless Park, Kalinganagar – would house facilities for manufacturing of downstream stainless steel products such as auto components, fabrications and pipes and tubes among others,” he said.
JSL will invest about Rs 1,500 crore in the park, which is expected to be operational in the next two years.
According to Hemant Sharma, principal secretary, Industries Department at Government of Odisha: “The companies setting up facilities are expected to invest about Rs 10,000 crore over a five-year period and the park is expected to house 75-80 SMEs and MSMEs”.
The Odisha government, which will provide the external infrastructure, is also offering incentives and subsidies for companies setting up facilities in the park, he added.
Talking of cheaper steel imports from China, Jindal said there is still “no respite”.
