JSW Steel lines up Rs.1 lakh crore investments in Odisha

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Bhubaneswar: JSW Steel Chief Sajjan Jindal on Monday said, his company is planning to invest Rs. 1 lakh crore in Odisha in the next 10 years. He said this after his meeting with Odisha Chief Minister Naveen Pattnaik through video conferencing.

During the discussion, the Chief Minister stressed on maximum value addition of resources within the state for accelerating job creation and revenue generation.

“Spoke to noted industrialist @sajjanjindal and discussed the progress of @jswsteel’s Integrated Steel Project in Jagatsinghpur and other projects. Stressed on maximum value addition within #Odisha to create jobs for our youths & accelerate revenue generation” twitted the Chief Minister.

 

The OP Jindal group company is setting up a 13.2 MTPA integrated steel project at Paradip in Jagatsinghpur district, the same site South Korean Steel major Posco had abandoned few years back.

The company has already secured public consent for the project and is expected to start the project work soon. The Steelmaker is planning to invest about Rs.53700 crore in the project which includes a 12 MTPA Steel plant with 900 MW captive power plant, an all-weather multi-cargo Greenfield jetty with handling capacity of 52 MTPA.

JSW has bagged 4 Iron Ore mines -Nuagaon, Narayanposhi, Jajang and Gonua during the auction conducted by the Odisha government in February. Among the four mines, Nuagaon is the biggest mine with estimated Iron Ore reserve of 790 million tonnes.

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