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Tata Steels Odisha SEZ gets first investment

Thu, 29th Oct 2015 (Source:The Hindu Business Line)

Sure Safety Solutions has tied up with United Kingdom based Meggitt Defence to produce aerial target products for defence sector at the special economic zone being promoted by Tata Steel near its yet-to-be-commissioned six million tonne greenfield steel plant in Odisha. Sure Safety Solutions will invest Rs50-60 crore in the plant spread over five acres. 

Coming up under the ‘Make in India’ scheme, it is expected to start production by June next year. To start with, the plant will produce aerial target products and service the $50-million order procured by Meggitt Defence from the Ministry of Defence. 

Established in 2004, Sure Safety Solutions is a defence technology products maker having expertise in manufacturing equipment in electronic warfare, optical tracking systems and training simulators, which are required to modernise Armed forces. Arun Misra, Managing Director, Tata Steel Special Economic Zone, said the company is in discussions with investors in China and some South-East Asian countries have also shown interest in investing in the SEZ. 

“We are committed to establish this region as the next industrial hot spot of Odisha and this investment marks the first step in this regard,” he said. Tata Steel Special Economic Zone, the wholly-owned subsidiary of Tata Steel, is developing the industrial park at Gopalpur on 1,235 acres.

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