Welspun Group Plans To Invest Rs 20,000 Crore In Odisha

Odisha chief minister Naveen Patnaik and industries minister Pratap Keshari Deb have reasons to feel elated. The state has managed to attract investment worth Rs 84,918.75 crore towards 12 key industrial projects. Some of the companies which have plans to invest big time in Odisha are: Welspun Group, Tata Steel, NTPC, REFL and Sembcorp Green and Ind Barath Energy Utkal. These investments are expected to generate employment opportunities for over 42,000 people. And guess who is leading the investment pack? It is Mumbai-headquartered Welspun Group, an Indian multinational conglomerate led by husband-wife duo Balkrishan and Dipali Goenka. The group has a strong presence in pipes, textiles, Infrastructure, and steel. The Goenkas are investing over Rs 20,000 crore in Odisha covering its business verticals. As part of the plan, Welspun Living has got the Odisha government’s nod for acquiring 350 acres of government-owned Odisha Textile Mills land for setting up an integrated textile and logistic facility at Chowdwar, Cuttack. For this project the group has earmarked over Rs 3,000 crore for this project having employment prospects of over 20,000 employees. Similarly, Welspun’s pipe and pipe coating plant under Welspun Corp at Sambalpur will create another 3,830 employees and its Green Ammonia plant at Sambalpur under Welspun New Energy Ltd will generate another 13,860 employees. Meanwhile, Patnaik has tasked the industry department to find suitable investors for the closed Brajrajnagar Orient Paper Mill spread over 843 acres