Cabinet approves special incentive package for projects of Welspun Group in Odisha

Bhubaneswar: Boosting up the transformational industrial projects by Welspun Group in Cuttack and Sambalpur, Odisha Cabinet today approved a special incentive package for the company.

It was a major decision that promised a significant boost to the industrial and economic landscape of Odisha. Cabinet approved the incentive package for ambitious projects in Choudwar, Cuttack, Nildungri and Sambalpur, an official source said.

These projects, with a combined investment of over Rs 6,600 crore and employment potential of over 20,000 persons, are set to usher in a new era of industrial growth and job creation in the State.

Revitalising Textile Industry and Employment in Choudwar, Cuttack:

The Integrated Textiles Manufacturing Unit in Choudwar, with an investment of Rs 3,000 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 utilised to provide both captive and commercial services and create further job opportunities.

Enhancing Agricultural Productivity and Farmer Welfare:

A key aspect of the Choudwar project is its backward integration with the agricultural sector, particularly benefiting cotton farmers in the Kalahandi-Bolangir-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 realisation 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.

Fostering Industrial Growth in Nildungri, Sambalpur:

The establishment of the Plastics Product Manufacturing Unit and DI Pipe Making Unit in Nildungri, Sambalpur, with an investment of over Rs 3,600 crore, 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.

A Commitment to Sustainable Development:

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 Welspun Group and is committed to providing all necessary support for the fruition of these projects.

“We look forward to witnessing 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,” a spokesperson of the Government said.