Renowned industrialist and founder of Indian Metals & Ferro Alloys Ltd (IMFA) Bansidhar Panda passed away at his residence here today, family sources said. He was 87.
Panda was instrumental in setting up industries that contributed to Odishas development in a big way.
He had a vision to bring industrial revolution in Odisha after he returned from the United States and chose Therubali, a remote outpost in the erstwhile undivided Koraput district, to set up the IMFA in 1961.
Panda was also known for his philanthropic activities and love for literature. Much before the concept of Corporate Social Responsibility (CSR) became popular, he was instrumental in instilling the culture of inclusive growth in the IMFA.
He is survived by two sons, MP Baijayant Panda, industrialist Subhrakant Panda and two daughters Paramita and Nita Ganapati.
Chief Minister Naveen Patnaik, OPCC chief Niranjan Patnaik, former chief minister Hemanand Biswal and many others offered condolences to family members and associates of Banshidhar Panda.
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