Epsilon Carbon invests Rs 10,000 Crore into mega carbon project in Odisha – EQ

In Short : Epsilon Carbon announces an investment of Rs 10,000 Crore in a mega carbon project in Odisha. This significant investment likely involves the development of carbon-related infrastructure, contributing to the industrial and economic development of the region.

In Detail : Epsilon Carbon strives to lead the carbon production industry and boost Jharsuguda and the surrounding region’s economy.

Epsilon Carbon Pvt Ltd, a prominent player in the carbon industry, has inked a Memorandum of Understanding (MoU) with the Government of Odisha, solidifying a groundbreaking investment of Rs 10,000 crore over the next decade. As the company builds an Integrated Carbon Complex (ICC) in Jharsuguda, Odisha, this significant commitment embodies a turning point in Indian carbon manufacture.

At 8,75,000 MT per year, the Integrated Carbon Complex (ICC) will manufacture three key carbon products:

Speciality Carbon Capacity: 500,000 MT per annum
Carbon Black Capacity: 300,000 MT per annum
Advanced Materials Capacity: 75,000 MT per annum

This project is expected to create 2,000 direct and indirect jobs and boost the region’s economy. To ensure holistic prosperity, the company is committed to collaborating with local communities and implementing programmes in crucial areas such as education, talent development, healthcare, and infrastructure.

The project location of Jharsuguda was selected strategically due to its thriving industrial ecosystem, availability of qualified labour, well-developed infrastructure, and favourable industry policies that are favourable. Access to major steel mills assures a stable supply of raw materials. Jharsuguda’s prominence as India’s aluminium hub, noted for the coal tar pitch used, boosts the project’s strategic benefit. Well-connected ports like Paradip enable smooth exports.

The managing director of Epsilon Carbon, Vikram Handa, conveyed his excitement, emphasising the investment decision in Jharsuguda as evidence of the region’s promise. He emphasised the congruence between the environmentally conscious policies of the State Government of Odisha and the sustainable business approach of the company. By establishing this venture, the company not only enhances its position in the carbon industry but also makes a substantial advancement in its dedication to sustainable development. The primary objective of the company is to set an example for excellence and innovation in the carbon manufacturing sector, all while contributing to the economic development and industrial progress of Jharsuguda and the surrounding regions.