The Chief Minister of Odisha, Naveen Patnaik, and MD of Jindal Stainless Ltd, Abhyuday Jindal, on Thursday, laid the foundation stone for a stainless steel industrial park in the state.
To be built as a natural extension of JSL’s Jajpur manufacturing facility, it will be “strategically connected with prominent highways for timely supply of raw materials and dispatch of finished goods”, the company said in a statement.
Planned in two phases over 6 years, the industrial park has an investment potential of over ₹1500 crore and “is expected to promote over 100 downstream and ancillary manufacturers”.
It will look to strengthen upstream and downstream industry linkages and empower indigenous manufacturing and also boost the metal’s production and demand in East India, the statement further added.