Investors see strong growth potential in Odisha, says Luxembourg envoy

Ambassador of Luxembourg to India, Peggy Frantzen, on Wednesday said that the business community of her country see Odisha as one of the "investor-friendly" states with huge potential for growth.

The Luxembourg Ambassador was speaking at a function marking the inauguration of the corporate office of VCL India Private Limited here.

"We are very pleased to see the long-term partnership and cooperation in the steel sector, strengthened through VCL's presence in India. I wish VCL a lot of success in the coming years in its relationship with its customers in and around India," she said.

On the occasion, Mario Kratz, chairman, VCL SA & CEO, SAB Group, said, "Our move to Bhubaneswar is driven by our commitment to being closer to our customers and contributing actively to Odisha's vibrant industrial landscape. We see this as a long-term partnership with the state and its industries."  VCL Managing Director and global head, Rainer Zilliken, highlighted that Odisha is emerging as a powerhouse in India's steel sector.

"Being based here gives us both proximity to our customers and access to a dynamic industrial environment. We look forward to growing with local partners and contributing to the region's economic progress," he said.

Odisha's Industries Secretary Hemant Sharma explained to the visiting dignitaries the potential of Odisha and how it is placed in India's steel landscape.

"The state has many offers for the investors, and foreign investments are welcome," Sharma said, adding that the investment signifies the strengthening economic linkages between India and Luxembourg and reflects Odisha's growing prominence as a preferred destination for global investors.

Aswini Khuntia, Director of VCL India Private Limited, explained that Valve Competency Luxembourg SA is a part of SAB Group and is a market leader in Europe for specialised valves and equipment for the global iron and steel industry.

With roots in Luxembourg's rich steel-making heritage, the company combines advanced engineering with precision manufacturing, he said.

Apart from Rajat Dalmia, consul of the Grand Duchy of Luxembourg in India, the event was attended by prominent leaders from India's foremost industry bodies, including the chairpersons and presidents of CII, FICCI, UCCI, and ASSOCHAM.