JSPL will invest Rs 1 lakh crore in Odisha for next 10 years

09 Jul 2021 CW Team

Jindal Steel and Power (JSPL) is set to invest over Rs 1 lakh crore in Odisha to create employment opportunities in the state, JSPL Chairman Naveen Jindal, told the media.

Jindal said JSPL would invest more than Rs 1 lakh crore and create substantial employment opportunities in the state in the next 10 years.

The industrialist said this in response to a meeting on Tuesday, chaired by Naveen Patnaik, Chief Minister, in which five major industrial projects worth Rs 1,46,172 crore in metal and downstream metal sectors were approved.

Patnaik said that such decisions would go a long way in increasing the industry's confidence and propel our efforts towards building a prosperous Odisha and a self-reliant India.

The Chief Minister of Odisha's office' official Twitter handle said that the State High-Level Clearance Authority, chaired by the CM, approved five major industrial projects worth Rs 1,46,172 crore in metal and downstream metal sectors on Tuesday.

These projects will almost double the steel production of Odisha to 58 million tonne (mt).

The Chief Minister's office informed in its Twitter handle that these projects include expansion of Bhushan Power and Steel Integrated Steel Plant in Sambalpur, development of @TataSteelLtd crude steel production, hot-rolled coil, cold-rolled and long products in Jajpur, and expansion of @JSPLCorporate existing integrated steel plant in Angul.

Additionally, it said that in line with CM's vision of 2030 to make Odisha the steel hub of India by increasing production to 100 mt, these projects would add a steel production capacity of 28 mt.

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Also read: JSW Steel plans Rs 25k cr investment to increase capacity to 37 mt

Also read: JSW Group clubs large project divisions of steel and cement biz

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