Epsilon Carbon Pvt. Ltd., a prominent player in the chemical industry, has officially inked a Memorandum of Understanding (MoU) with the Government of the Indian State of Odisha. The commitment entails a substantial investment of Rs 100 billion ($1.2 billion) spread over a decade, earmarked for the establishment of a cutting-edge Integrated Carbon Complex (ICC) in Jharsuguda, Odisha.
The ICC project is poised to be a game-changer, boasting a formidable manufacturing capacity of 8,75,000 MT per annum for a diverse range of carbon products. The tripartite structure of the complex includes Speciality Carbon Capacity (500,000 MT/annum), Carbon Black Capacity (300,000 MT/annum), and Advanced Materials Capacity (75,000 MT/annum).
A significant aspect of this initiative is its potential to generate approximately 2000 direct and indirect job opportunities, thereby making a substantial contribution to the socio-economic development of the region. Epsilon Carbon is firmly committed to fostering collaboration with local communities, focusing on initiatives that support education, skill development, healthcare, and infrastructure.
The strategic choice of Jharsuguda as the project’s location is underpinned by several factors. The region boasts a robust industrial ecosystem, a pool of skilled labor, well-developed infrastructure, and policies that are conducive to industrial growth. Furthermore, Jharsuguda’s proximity to major steel industries ensures a steady and reliable supply of raw materials. The project also stands to benefit from the region’s status as India’s aluminum hub, leveraging the extensive use of coal tar pitch. The proximity to well-connected ports, such as Paradip, further enhances the logistical advantages, facilitating smooth export operations.
Vikram Handa, the Managing Director of Epsilon Carbon, expressed the company’s confidence in the untapped potential of Jharsuguda. He underscored the state’s industrial-friendly policies and highlighted the synergy between these policies and Epsilon Carbon’s sustainable business strategy. The venture is positioned not only to catalyze the industrial growth and prosperity of the region but also to serve as a pivotal milestone in Epsilon Carbon’s unwavering commitment to sustainable development.