1. Home
  2. India
  3. At Make in Odisha 2018, Aditya Birla Group pledges $2-bn fresh investments
At Make in Odisha 2018, Aditya Birla Group pledges $2-bn fresh investments

At Make in Odisha 2018, Aditya Birla Group pledges $2-bn fresh investments


The group aims to generate employment for 25,000 people in the state

Diversified conglomerate Aditya Birla Group has committed $2 billion in new investments in Odisha over the next two years, a top executive said in Bhubaneswar.

“The investments would be spread across businesses. Beyond business, we are also going to invest in socio-economic areas. Inclusive growth is at the heart of what we do. The chief minister’s leadership here continues to be a huge draw for us,” said Kumar Mangalam Birla, the chairman of the Aditya Birla Group, at ‘Make in Odisha 2018′, a biennial investors’ conclave hosted by the state government.

The group, with interests ranging from textiles to telecom and aluminium to cement, has already sunk in over Rs 400 billion in investments in Odisha, creating employment for around 12,000 people. Through ancillarisation, the group aims to generate employment for 25,000.

Birla opened up on his group’s green energy plans, stating that 100 Mw solar capacity will be developed in the state in partnership with Odisha discom (distribution company). Group company Aditya Birla Renewables turned out to be the L1 bidder at the maiden solar power auctions conducted by Gridco, the bulk power trader and purchaser, quoting a tariff of Rs 2.44 per unit.

With a downstream aluminium rolling mill at Hirakud, an alumina refining unit owned by Utkal Alumina, a four-million-tonne cement plant, an alkali plant at Ganjam, Essel Mining’s operations, and a textiles unit of Aditya Birla Fashion & Retail, the group’s operations in Odisha straddle various sectors.

Birla commended Odisha for its culture, which he felt was an enabler to industrial growth.

“The culture and DNA of Odisha is full of what it takes to build a modern industry. The historic temples at Puri and Konark are a testimony to the execution of project management skills even in the most difficult circumstances. The state remains one of the top investment destinations and our experience here is extremely rewarding,” he said.

Echoing Birla’s views, JSW Group Chairman & Managing Director Sajjan Jindal said, “Odisha has the potential to become a trillion dollar economy by 2030. The state has a very important role to play in the development of India.”

Sanjiv Puri, managing director, ITC Ltd, said, “A pro-active governance, investor-friendly climate and robust infrastructure powered by deep water ports make Odisha a very compelling destination. Our commitment is to partner with the state in its journey of socio-economic transformation.”

Source: business-standard
Anand Gupta Editor - EQ Int'l Media Network


Your email address will not be published. Required fields are marked *