Bhubaneswar: Chief Minister on Friday confirmed that a mega steel plant will be set up by the joint venture of JSW Group and South Korean Posco in Odisha’s Keonjhar, which is also his home district.
“I had held discussions with JSW and Posco during road shows for Utkarsha Odisha 2025, which were held in Delhi and Mumbai. In the meantime, they have signed an MoU to set up an integrated steel plant. They have also mentioned that the plant will be jointly set up in Keonjhar. It is in the pipeline and will certainly see the light of the day,” Majhi, who is on a two-day visit to Keonjhar to celebrate Diwali, told reporters.
The two conglomerates had announced their plans to set up an integrated steel plant in India, besides collaborating for green energy production and manufacture of battery materials for electric vehicles (EVs), on Tuesday. The MOU signing event took place on October 21 in Mumbai in presence of Posco Chairman and CEO Chang In-hwa and JSW Group Chairman Sajjan Jindal.
Also Read: Steel Major Posco Set To Return To Odisha Via JSW Route
Two patches of land have reportedly been identified for the proposed project – around 2,500 acres near Odisha Tea Plantation Ltd (OTPL) at Taramakant area under Banspal block and another 1,956 acres at Patna, which was initially offered to steel major ArcelorMittal. “The survey of the OTPL land has been completed. One of the two sites will be selected for the proposed steel plant after the visit of a high-level team of senior officials from the joint venture. If things go as planned, an MoU will be signed during the upcoming Utkarsh Odisha: Make-in-Odisha Conclave 2025 in January,” a source told The New Indian Express.
This will a second attempt by the South Korean steel major to set up a steel plant in Odisha. It had earlier scrapped its plan for a 12-million tonne (mt) steel mill in Odisha’s Paradip and surrendered the land allotted for the project amid public resistance and regulatory hurdles.
On October 30, Industries Minister Sampad Chandra Swain also stated that many industries are eager to invest in Odisha following the change in regime.
Also Read: Posco’s Return! Industries Keen To Invest In Odisha After Change Of Govt, Says Minister
