Jai Balaji Group proposes Rs 6,000 crore investment in West Bengal
The proposed expansion into defence and aerospace sectors is expected to create more than 20,000 new jobs.
The Jai Balaji Group announced on Thursday that it has proposed an investment of approximately Rs 6,000 crore in West Bengal over the coming years, according to ThePrint.
The group intends to focus on sectors including defence, aerospace, specialised steel, precision engineering, and renewable energy.
This expansion is expected to create more than 20,000 additional jobs, the group said in a statement.
The investment plan involves manufacturing high-grade steel and specialised alloys for defence, as well as components for the aerospace and railway industries.
The group also aims to produce copper and aluminium alloys, steel castings, and forgings to serve the automobile, space, and engineering sectors.
The statement noted that the plan reflects confidence in the state's industrial potential and the business environment promoted by the new government.
The Jajodia family-founded group currently operates 10 manufacturing facilities across West Bengal, Odisha, and Chhattisgarh, with eight located in West Bengal.
To support its manufacturing and reduce its carbon footprint, the group plans to invest in green power and solar energy generation.