JSW Steel plans Rs 15,000 cr plant in Odisha

Bhuabneswar: Steel major JSW Steel is interested to set up a steel plant in Kendrapara district with an investment of Rs 15,000 crore. This was informed by JSW steel CMD Sajjan Jindal here on Monday.

Jindal met Odisha chief minister Naveen Patnaik at the State Secretariat here and discussed the investment plan. Kendrapara MP Baijayant Panda was also present at the meeting.

"We have a plan to set up a steel plant in Odisha with an investment of Rs 15,000 crore. We have visited 2-3 sites but Kendrapara seems to be better place to establish the plant. We want the plant to be close to a port," said Jindal after the meeting with the CM.

For the steel industry, Odisha is the best place in India due to easy availability of skilled manpower and complete support from the state government, the JSW Steel CMD added.

Asked on capacity of the proposed steel mill, he said, “The project is still at an exploratory stage. So, it will be difficult to say at the moment whether its capacity will be three million tonne per annum (mtpa) or 10 mtpa.”

If everything goes well, this proposed project would be the third greenfield project of JSW Steel in the state. Currently, the firm's two steel mills are operating in the state at Kalinga Nagar and Angul.

"The district is closer to two both the Paradip and Dhamra ports. That's why JSW Steel CMD Sajjan Jindal had expressed his interest to do an aerial survey of the site," said Baijayant Panda, MP, Kendrapara.

JSW Steel is the flagship company of the $11 billion JSW Group with interests in steel, energy, infrastructure and cement.

 
In a releated development, the State Level Single Window Clearance Authority (SLWCA) under the chairmanship of Chief Secretary J K Mohapatra approved new investment proposals of about Rs 1921 crore in the steel sector.
 
The investment proposals included eight steel projects and one in the service sector like a logistic park.