MSMEs are expected to invest Rs 10,000 crore in Jindal Stainless’s steel park.

Over the next five years, small scale manufacturers are predicted to invest Rs.10,000 crore in the stainless steel park that Jindal Stainless (JSL) is developing in Odisha. In addition, the industrial park, which is anticipated to be operational in the following two years, would also provide up to 20,000 jobs.

The nation’s first stainless steel park, which will be created by JSL on a 271-acre plot of land in Kalinganagar, was given its official start in December of last year by Odisha Chief Minister Naveen Patnaik.

“We’re working on creating the environment around the park, and once that’s done, we’ll invite businesses to come and set up shop there. The park is anticipated to be finished within the next two years; the Odisha government is supporting us, and JSL is funding the project, according to JSL MD Abhyuday Jindal.

He claimed that the Jindal Stainless Park in Kalinganagar will have factories that produced downstream stainless steel items such auto parts, fabrications, pipes, and tubes. JSL would contribute roughly Rs.1,500 crore to the park, which should be open in the next two years.

Hemant Sharma, senior secretary for the government of Odisha’s industries department, stated that “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”

He noted that in addition to providing the external infrastructure, the government of Odisha is also providing incentives and subsidies for businesses establishing facilities in the park. Jindal stated that there is still “no respite” when referring to cheaper steel imports from China.

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