Epsilon Carbon to invest in integrated carbon complex in Odisha
January 25, 2024 11:23 am
The investment of Rs. 10,000 crore which aims to be completed in 10 years will assist in manufacturing 8,75,000 MT/annum of carbon products making it one of the largest integrated carbon complexes in India.
Epsilon Carbon Pvt. Ltd. signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs. 10,000 crores over 10 years, pioneering the future of carbon manufacturing in India. This significant investment will materialize into an Integrated carbon Complex (ICC) located in Jharsuguda, Odisha.
Integrated Carbon Complex (ICC) will include the following three carbon products:
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The project is expected to create approximately 2000 direct and indirect job opportunities, contributing to the socio-economic development of the region. Epsilon Carbon will also be collaborating with the local communities to ensure their overall prosperity through programs in key areas such as education, skill development, healthcare, and infrastructure.
Jharsuguda’s industrial ecosystem, availability of skilled labour, robust infrastructure, and industry-friendly policies make it an ideal location for the upcoming mega project. The project also benefits from proximity to major steel industries, ensuring a constant supply of raw materials. The strategic advantage of the project is enhanced by Jharsuguda’s recognition as India’s aluminium hub, a region extensively utilizing coal tar pitch. Additionally, the project benefits from well-connected ports like Paradip, ensuring smooth export operations.
Vikram Handa, Managing Director of Epsilon Carbon, expressed his enthusiasm, stating, “Our decision to invest in Jharsuguda reflects our confidence in the region’s potential. The industrial-friendly policies of the State Government of Odisha, coupled with the existing steel and aluminium industries, align perfectly with our sustainable business strategy. This venture not only strengthens our presence in the carbon industry but also marks a significant milestone in our commitment to sustainable development. Epsilon Carbon looks forward to pioneering innovation and excellence in carbon manufacturing while contributing to the industrial growth and prosperity of Jharsuguda and the surrounding regions.”