Bhubaneswar: JSW Group in collaboration with POSCO will set up a mega steel plant with an investment of Rs 30,000-40,000 crore in Odisha’s Keonjhar district.
This was announced by JSW Group’s chairman Sajjan Jindal on the inaugural day of Utkarsh Odisha, Make In Odisha Conclave in Bhubaneswar on Tuesday. He said his group had proposed to make a total investment of around Rs 1 lakh crore in industrial sector in the state in next five years.
“Odisha is a mineral rich country and JSW basically deals with industries related to minerals. Accordingly, we plan to invest in the steel industry in the chief minister’s constituency. Since POSCO has already spent enough time and resources in this sector in the state, we are in talks with the company also,” he told the media on the sideline of the conclave.
He further said the work on the steel plant of 12-million ton capacity in Paradip was going on. Besides, his company was also planning to go for capacity expansion of its plant at Jharsuguda, he added.
The state government has already identified two patches of land 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.
Earlier, Chief Minister Mohan Charan Majhi had confirmed about the joint venture steel plant. “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,” sources said.
