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Jindal to set up mega steel project in Odisha

Fri, 07th Apr 2017 (Source:BIZODISHA)

By Bizodisha Bureau, Bhubaneswar, March 26 2017 : JSW Steel Limited of Jindal Group, a leading manufacturer of integrated steel now has proposed to set up a mega steel project of 10 million tonne capacity with a captive power plant of 900 MW capacity with an investment of Rs 50,000 crore in Jagatsinghpur district. Ironically, the investment proposal follows the withdrawal Korean steel major Posco from its mega steel project in the district. Posco last week wote a letter to the state government requesting to take over about 1,700 acres of land near Paradip in Jagatsinghpur district. The State level single window clearance authority (SLSWCA) on Saturday recommended two project proposals of JSW Group including the steel project to the high-level clearance authority (HLCA) headed by Chief Minister Naveen Patnaik. An industrial infrastructure investment proposal of Rs 3,700 crore by JSW Infrastructure, another subsidiary of JSW Group, was also referred to the HLCA. While the steel project has employment potential for 30,000 people, the infrastructure project proposed to create employment opportunities for 350 people. The SLSWCA meeting chaired by Chief Secretary A P Padhi cleared two project proposals worth Rs 152 crore and recommended seven other projects to the HLCA. The single window authority has also recommended an investment proposal of Rs 4,252 crore of Bhusan Power and Steel in downstream sector. The other proposals recommended to the HLCA include OCL India’s investment plan of Rs 1,995 crore in cement manufacturing and Rs 1,750 crore investment proposal of Deepak Fertilisers and Petrochemicals Corporation Limited in chemicals and petrochemicals. The nine projects have the potential to create employment opportunities for about 39,545 people.

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