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News Highlights

  • The state has been able to attract investments to the tune of Rs 2.96 lakh crore in 2020-21 despite the Covid pandemic.
  • With Tuesday's additional investments the total investments since last year will be Rs 4.43 lakh crore in the state.
  • These five projects are expected to create employment opportunities for 26,959 persons. "All these projects need a big push forward to realise the steel dream of Odisha," Patnaik said after approving these projects.

Bhubaneswar: The Odisha government on Tuesday accorded in-principle approval for five different projects having 27.5 MT steelmaking capacity at an investment of Rs 1.46 lakh crore, official sources said.

The state, which started its steel making journey from just 2 million tonne per annum (mtpa) in 2000, has so far enhanced the capacity to generate 30 mtpa and Tuesdays addition of another 27.5 mtpa will take the capacity to 57.5 mtpa, he said.

Tuesday's approval will also provide the mineral rich and tribal-dominated Keonjhar district with a mega steel plant of 3 MT capacity. This is the first big investment in manufacturing in Keonjhar, the official said.

This apart, the approval to JSPL's expansion plan of its Angul plant to 25.2 mtpa, will make the company the world's largest single-location steel plant.

The approval was cleared at the State High Level Clearance Authority, chaired by Chief Minister Naveen Patnaik.

The new investment to the tune of Rs 1,46,172 crore in metal and metal downstream sectors during the COVID-19 pandemic also made Odisha one of the favoured investment destinations in the country.

The state has been able to attract investments to the tune of Rs 2.96 lakh crore in 2020-21 despite the Covid pandemic, he said, adding that with Tuesday's additional investments the total investments since last year will be Rs 4.43 lakh crore in the state.

These five projects are expected to create employment opportunities for 26,959 persons. "All these projects need a big push forward to realise the steel dream of Odisha," Patnaik said after approving these projects.

This will help to achieve the goal to produce 100 million tonne of steel by 2030, a senior official said, adding that the state currently has a production capacity of 30 million tonne, way ahead of a meagre 2 million tonne in the year 2000.

The projects which got approval included, the expansion of Bhushan Power and Steel Limited's integrated steel plant from 5 million tonne per annum to 15 million tonne per annum against an investment of Rs 55,000 crore. The project will be set up at Rengali in Sambalpur district and will generate potential employment opportunities for over 10,000 persons.

A proposal for the expansion of Tata Steel Limited's crude steel production from 3 million tonne per annum to 8 million tonne per annum, hot rolled coil from 3 million tonne per annum to 7 million tonne per annum, 2.2 million tonne per annum cold-rolled products and 2 million tonne per annum long products against an investment of Rs 47,599 crore to be set up in Kalinga Nagar, Jajpur, also got the government's nod. This will generate potential employment opportunities for over 4,625 persons.

The expansion of Jindal Steel and Power Limited's 6 million tonne per annum existing integrated steel plant from the proposed capacity of 18.6 million tonne per annum to 25.2 million tonne per annum at an investment of Rs 24,652 crore to be set up in Angul. This will generate potential employment opportunities for over 1,000 persons.

"This investment will take JSPLs total investment to Rs 1,00,670 crore, making it the largest single-location steel plant capacity in the world," the official said.

Similarly, the expansion of Rungta Mines Limited's Integrated Steel Plant from the proposed capacity of 2.85 million tonne per annum capacity to 7.55 million tonne per annum by adding capacity of 4.7 million tonne per annum at an investment of Rs 11,001 crore to be set up at Jharbandh in Dhenkanal district. This will generate potential employment opportunities for over 6,200 persons, he said.

The expansion of Rungta Mines Limited's Steel Plant capacity from 0.53 million tonne per annum to 3 million tonne per annum at an investment of Rs 7,920 crore to be set up at Karakhendra in Keonjhar district, will also generate employment opportunities for over 5,134 persons.

This apart, several steel and downstream industries are already in various stages of implementation. The approvals granted on Tuesday are to the leading and reputed investors in the metal sector of the country and will further reinforce Odisha's position as the top most investment destination in the country, the official said.
 

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