Bhubaneswar: In a major decision that promises to significantly boost the industrial and economic landscape of Odisha, the State Cabinet on Tuesday approved a special incentive package for the Welspun Group’s ambitious projects in Choudwar, Cuttack, and Nildungri, Sambalpur.
These projects, with a combined investment of over Rs 6600 crore and employment potential of over 20,000, are set to usher in a new era of industrial growth and job creation in the State.
The Integrated Textiles Manufacturing Unit in Choudwar, with an investment of Rs 3000 crore, is going to revive the textiles manufacturing tradition at Choudwar. This project is expected to generate over 10,000 direct jobs and an equal number of indirect jobs, significantly impacting the socio-economic fabric of the region.
The diversity of roles created will span from manufacturing to management, requiring extensive skill development initiatives and contributing to robust human resource development in the area.
The Group will also set up a modern multi-modal warehousing complex through their group company Welspun One on the same premises which will be utilized to provide both captive and commercial services and create further job opportunities.
A key aspect of the Choudwar project is its backward integration with the agricultural sector, particularly benefiting cotton farmers in the Kalahandi-Balangir-Koraput region.
This integration aims to improve crop yields, ensure fair pricing, and improve supply chain efficiencies, thereby improving the agricultural value chain in the state.
The initiative is expected to lead to better price realization for farmers and enhanced quality of produce, marking a significant step towards agricultural advancement and farmer welfare.
This intervention will not only augment the livelihoods of farmers but also support the state’s efforts in crop diversification, thereby enhancing the overall agricultural productivity and sustainability in Odisha.
The establishment of the Plastics Product Manufacturing Unit and DI Pipe Making Unit in Nildungri, Sambalpur, with an investment of over Rs 3,600 crores, is set to create a large number of employment opportunities in the region.
This project, being the first major initiative in the Biju Economic Corridor, is expected to further stimulate the growth of ancillary industries, creating additional job prospects for the local population.
These projects are a testament to the Government of Odisha’s commitment to fostering sustainable industrial growth, employment generation, and skill development.
The focus on integrating industrial development with agricultural advancement ensures an all-round approach to the state’s progress, benefiting the people of Odisha.
The Government of Odisha is enthusiastic about this collaboration with the Welspun Group and is committed to providing all necessary support for the fruition of these projects.
The manifold benefits these initiatives will bring to the people of Odisha, marking a new chapter in the state’s journey towards becoming a hub of industrial and agricultural excellence.
