Tata Steel to hold roadshow in Singapore to lure investors

The steel firm is anchor tenant for this park which has the potential to attract investments worth Rs 20,000 cr

Tata Steel is planning to conduct a roadshow in Singapore soon to draw investors for the industrial park at Gopalpur in south Odisha. The steel firm is the anchor tenant for this park which has the potential to attract investments of the order of Rs 20,000 crore.

"As of now, we have four to five investment proposals but they are yet to take the shape of committed investments. We are going to organise a roadshow in Singapore shortly to draw investors. Mostly, we are looking at investments in electronics manufacturing and defence sectors", said a company source.

Tata Steel has already obtained the SEZ (Specific Economic Zone) notification for the industrial park. The SEZ notification is for 500 hectares (or 1,235 acres). The whole park spreads over 3o00 acres.

As an anchor tenant, Tata Steel is developing a ferro alloys plant with a capacity of 55,000 tonne per annum. The facility is being put up at a cost of nearly Rs 600 crore.

So far, the industrial park has attracted one investment. Mumbai-based Sure Safety Solutions Ltd in collaboration with UK's Megitt Defence has started operations of the aerial target manufacturing facility at the Gopalpur park.

Tata Steel has roped in Ernst & Young as the consultant for the project while Singapore-based Jurong has been engaged for designing the master plan.

To pull investors for the Gopalpur industrial park, Tata Steel has already staged roadshows in Israel, Dubai and China.