London: In a landmark development for Indo-UK economic relations, Dr. Biswanath Patnaik and Mr. Arun Kar, distinguished Odia investors and entrepreneurs, recently engaged in a high-profile dinner meeting with non-other than most dynamic Prime Minister of the United Kingdom, Rishi Sunak, along with his core committee members, for a high level investors dinner meet in London. They were part of the special invitee for this dinner. The meeting marked a significant step towards fostering collaboration and investment between the UK and Odisha, as the duo outlined their ambitious plans for socio-economic development in the UK and their home state.
Dr. Patnaik is the chairman & mentor and Mr. Kar is the managing director of Finnest Group of Companies, a distinguished private equity investment firm operating under the BNP Group umbrella. Their venture, Finnest Group, has gained international recognition, gracing the cover of Forbes magazine in March 2023, attesting to their commitment to excellence and innovation.
During their recent visit to Odisha, the Odia duo laid out strategic investment plans set to propel key sectors in the state:
- EV – Hydrogen Manufacturing Units: Finnest Group aims to establish Odisha’s first hydrogen-based electric vehicle (EV) locomotive manufacturing plant, investing approximately Rs. 450 crores. The plant will produce eco-friendly and cost-effective vehicles, contributing to a reduction in carbon emissions and a decrease in dependence on fossil fuels.
- Biodegradable Bags Factory: With an investment of Rs. 50 crores each, Finnest Group plans to set up bio bag-making units in Gujarat and Odisha. These units will produce biodegradable bags made from corn starch and natural materials, offering a sustainable alternative to plastic bags and addressing environmental pollution and waste management challenges.
- Electronics Manufacturing and Data Centre: Finnest Group will invest Rs. 300 crores in establishing an electronics manufacturing and data center in Odisha, addressing the rising demand for digital devices and services. The project aims to generate employment opportunities and boost the IT and electronics sector in the state.
- Theme Park with Sports Academy, International Educational Institutions, and Mamata Devi Multi-Speciality Hospital: Finnest Group plans to invest Rs. 500 crores in developing a theme park with a sports academy, international educational institutions, and a multi-speciality hospital in Odisha. This integrated facility will provide entertainment, educational, and healthcare services, catering to the diverse needs of the people and attracting visitors from across the nation and beyond.
Prime Minister Rishi Sunak commended the vision and dedication of Dr. Patnaik and Mr. Kar, assuring them of the UK government’s support and cooperation in facilitating their investments and projects. He also expressed admiration for Odia culture and heritage, extending an invitation for the investors to explore further collaboration opportunities.
Dr. Patnaik and Mr. Kar expressed their gratitude for the Prime Minister’s warm hospitality, acknowledging his leadership and achievements. They conveyed their honor and delight at the meeting and expressed eagerness to collaborate with the UK government in strengthening UK-India relations.
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