State Government To Set Up Machine Tool Park In Jajpur
The Odisha government has expressed strong interest in setting up a Machine Tool Park at the Kalinga Nagar Industrial Complex (in Jajpur district), which is expected to spread over at least a hundred acres. Accordingly, a detailed proposal has been submitted to the Union Heavy Industries and Public Enterprises ministry for review.
The establishment of a Machine Tool Park in Jajpur would be welcome as it would be the second such facility in India, after Tumkur in Karnataka. The MTP will house around 58 units and will require ₹280 crores of investment towards infrastructure.
While 80% of the cost will be borne by the centre, the rest 20% will be provided for from the state purse. Other investments worth ₹500 crores are expected from units that will set up shop there, once work commences. The MTP and ancillary businesses would provide employment opportunity to around 1500 people.
The proposal is in line with the government’s consistent efforts to promote downstream industries in the metal sector. Last month, the state government had received an expression of interest from NALCO, which would invest an appreciable ₹5,500 crores in the state for setting up of their complex.
Periodic investments in the manufacturing sector are aiding the long-run growth for Odisha, as investment in infrastructure is one of the pillars for sustainable economic growth.