Tata Steel lays foundation stone for Gopalpur Industrial Park

On August 20, Indian steel giant Tata Steel performed a groundbreaking ceremony for the Gopalpur Industrial Park at Gopalpur in southern Orissa state, India. The park is expected to attract investments of INR 100-150 billion (INR 2.14-3.22 billion) and to generate employment for around 10,000 people.
 
According to a company press release, the foundation stone for the project was laid by the chief minister of Orissa, Sri Naveen Patnaik, in the presence of other ministers and officials.  Tata Steel was represented by its managing director, Mr H M Nerurkar, and its vice president corporate services, Mr Sanjiv Paul, among others.
 
Anchor investments of INR 10 billion ($214.4 million) proposed to be made by Tata Steel at the Gopalpur Industrial Park include expenditure for a 50,000 mt per annum ferrochrome plant and a 400,000 mt per annum rebar steel mill. This will generate employment opportunities for more than 1,000 people.
 
The Gopalpur Industrial Park is being developed by Tata Steel to facilitate the industrial development of the region. The park will primarily attract investments in steel and allied downstream industries, engineering, chemicals and other emerging sectors, Tata said.
 
Tata Steel Group is investing INR 350 billion ($7.5 billion) in the steel, ferroalloys, port, power and other sectors of industry in Orissa, Tata Steel pointed out, adding that together, these projects will generate employment for more than 30,000 people in the state.