News Brief
New Steel, Cement Plant In Odisha As JSW To Invest Rs 65,000 Crore, CM Naveen Patnaik Lays Foundation At Paradip
Naveen Patnaik lays foundation stone of JSW Plant in Odisha
Odisha Chief Minister Naveen Patnaik laid the foundation stone for JSW’s Mega Integrated Green Steel Manufacturing Complex in Paradip on Friday (16 February).
There is a proposed investment of approximately Rs 65,000 crore in multiple phases. The plant has an employment potential of around 30,000 jobs directly and indirectly.
The Integrated Manufacturing Complex will house Integrated Steel Manufacturing Unit, Jetties for port facility, Power Plant, Cement Unit and Modern Township.
JSW Group posted on X, "This initiative is poised to drive economic growth in the region, with an emphasis on sustainability and innovation."
The Economic Times reported that the steel plant will have the capacity to produce 13.2 million tons of steel per year, while the port facility will be able to handle 52 million tons of cargo per annum.
The production capacity of the cement plant will be 10 million tons annually and the iron ore slurry transportation system will be able to transport 30 million tons per year.
The JSW Group has got over 2,958 acres of land from Industrial Development Corporation of Odisha (IDCO) for establishing the integrated manufacturing facility.
However, 30 per cent of this land will be reserved for forests and water bodies, JSW Steel said. Earlier, this land was kept for Korean Steel Major Posco.
However, that project could not take off due to opposition from locals and Posco withdrew in 2017. After that JSW's project came up fighting National Green Tribunal case.
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