Mumbai: JSW Utkal Steel Ltd (JUSL) received the environmental clearance (EC) for setting up a greenfield Integrated Steel Plant (ISP) of 13.2 million tonnes per annum (MTPA) crude steel from Ministry of Environment & Forest and Climate Change (MoEF&CC).
The mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha.
The capital expenditure for the modern, green and environment-friendly integrated steel plant (ISP) project is estimated to be approximately Rs 65,000 crores, including associated facilities. The phase-wise work for the project will start once the land is handed over to the company by Odisha government, stated a release by JSW.
The project was accorded EC after successful public hearings. JUSL has earmarked budgets for social interventions under public health, education, skill development, social infrastructure, waste management, environment, drinking water, women empowerment, among others. Based on the environment impact assessment (EIA), the company plans to incur expenditure for environment protection and mitigation measures.
JSW Steel has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42% over the base year of 2005 by 2030 (to a level 1.95tCO2/tcs).
JSW Steel has also been investing in R&D for sustainable products and emission control, resource optimisation, process efficiency and for ensuring multi-pronged digital focus to improve existing practices.
JSW Steel has issued the global steel industry’s first Sustainability-Linked US Dollar bond in 2021, linked to its decarbonization target for 2030. The target set by JSW Steel is much steeper than those committed as per India’s Paris Accord NDC’s, and is aligned with the sustainable development scenario (SDS) pathway of the International Energy Agency, stated the release.
