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Odishatv Bureau

Bhubaneswar: Jindal Steel and Power Ltd (JSPL) on Thursday unveiled a vision statement with ambitious plans to inject Rs 1.20 lakh crore for four-fold increase of the capacity of its Angul plant in Odisha to 25.2 MTPA by 2030 and creating more than 60,000 direct job opportunities.

The Vision 2030 is in keeping with its commitment to Prime Minister Narendra Modi's Aatmanirbhar Bharat Mission, and inspired by Chief Minister Naveen Patnaik's vision to make Odisha a 100-MT steel manufacturing hub and the late visionary Biju Patnaik's dream to make the state a leader in steel, company officials said.

As per the vision statement, JSPL would make its Angul Steel Plant the world's largest and greenest single-location steel plant, thus putting Odisha on the global steel map.

JSPL's Vision 2030 focuses on enhancing the capacity of its 6 MTPA Angul integrated steel plant. "At our existing steel plant, we are producing steel through one of its kind technology wherein swadeshi coal is being used to produce synthesis gas which is utilised for production of DRI," it said.

The Angul steel plant will expand its total capacity to 25.2 MTPA through clean energy resources with an additional investment of Rs 1.20 lakh crore by 2030, it said.

JSPL Angul will see an expansion of substantial green steel manufacturing capacity through Hydrogen-based DRI and EAF route. The complex will also house a 12.5 MTPA cement plant to utilize the blast furnace slag and fly ash to produce environment-friendly, green cement.

Stating that the company draws inspiration from Biju Babu's vision for Odisha, JSPL Chairman Naveen Jindal said the Chief Minister's leadership and robust roadmap make us all the more committed to the state.

"JSPL today is the largest private investor in the state of Odisha. The state will remain our preferred destination for investments and expansions. A substantial part of this investment will come from our internal accruals/equity infusions. Odisha will be the powerhouse leading Eastern India's onward march, and JSPL will play its part in the same.

I am sure many others will also come forward to invest in the state and work with its outstanding human resources," Jindal said.

JSPL's Vision 2030 for 25.2 MTPA steel making capacity at Angul also entails substantial investments to develop the iron ore and coal mineral industry and build a world-class logistics infrastructure.

The company also plans to invest in a state-of-the-art Port and a dedicated Railway Line to connect the Port, the Angul facility, the Barbil Pellet Plant and its Raigarh plant in Chhattisgarh. The company is focussing on the robust supply chain mechanism and raw material transportation.

JSPL initiatives, thus, are expected to create 60,000 plus direct job opportunities and around 3,00,000 indirect employment opportunities in Odisha.

The company's operations in Odisha are likely to generate economic activity to the tune of nearly Rs 1.5 lakh crore annually, with the state exchequer getting richer by potential revenues of around Rs 7,500 crore per annum.

The company remains steadfastly committed to improving the quality of life of the local communities of Odisha through its various CSR programmes focussed on health care, education, skill development, sustainable livelihood, sports, art and culture.

The company also requested government officials for abolition of electricity duty and giving tax benefits of 15 per cent to brownfield projects as it is being given to greenfield projects.

Odisha's Steel and Mines Minister Prafulla Kumar Mallik and Minister of State for Industry Dibya Shankar Mishra appreciated JSPL's proposal for setting up the largest steel plant of the world at Angul.

Chief Secretary Suresh Chandra Mahapatra assured all support from the state government to achieve the goal of setting up 25.2 MTPA steel plant and for the required infrastructure.

"JSPL is known for its cutting-edge, environment- friendly technological innovations. We have undertaken some of the most state-of-the-art industrial innovations at our Angul unit in Odisha. Our Vision 2030 is part of the same journey, with the objective to put Odisha on the global map, besides making the state Eastern India's jewel," JSPL MD V R Sharma said.

(PTI)

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