The Gopalpur Industrial Park (GIP) of Tata Steel aims to attract investments to the tune of Rs 10,000 to Rs 15,000 crore in the field of steel downstream, chemicals and engineering.
To begin with, Tata Steel, as the anchor tenant of the project, has committed investments of Rs 1000 crore through setting up of a 50,000 tonnes per annum ferroalloys plant and a 400,000 tonnes per annum re-bar steel mill.
The complex, when fully operational, will generate employment opportunity for about 10,000 people.
The foundation stone for the Industrial Park was laid chief minister Naveen Patnaik, in the presence of state minister for revenue and disaster management, S N Patro and minister for rural development and law, Bikram Keshari Arukh, Tata Steel managing director, H M Nerurkar, and its vice president, corporate services, Sanjiv Paul, among others.
Speaking on the occasion, chief minister said, the Gopalpur Industrial Park would attract investments from diverse sectors of industry like steel, metals, engineering, chemicals, gems and jewelry, marine products etc.
Tata Steel MD, Nerurkar, said, “The process of industrialization in this region will take off with the setting up of the Gopalpur Industrial Park”.
In view of water scarcity in area, he said, emphasis will be given on rain water harvesting, hundred percent recycling and desalination of sea water to meet the water requirement of the projects to come up in the complex. This will ensure green development while ensuring that irrigation doesn’t suffer.
Nerurkar said, the success of the two anchor projects of the company will go a long way in boosting investors’ confidence and attracting investments to the tune of Rs 10,000 crore to Rs 15,000 crore to the Gopalpur Industrial Park. “This will facilitate sustainable economic development in and around Ganjam district”, he added.
Tata Steel will leverage the strength of companies in the Tata Group to develop the internal and external infrastructure for the industrial park. The pre-feasibility study of the project has been done by Ernst & Young. Jurong Consultants of Singapore is preparing its concept Master Plan.
It may be noted Tata Steel and its sister companies are investing Rs 35,000 crore in the steel, ferro alloys, port, power and other sectors in the state. Together, these projects will generate employment for more than 30,000 people.
