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JSW announces 1 lakh cr investment plan in Odisha

During the conclave, the JSW Group Chairman announced that the company is set to invest in various expansion projects across verticals including steel making, silicon wafers etc.

SNS | BHUBANESWAR |

On the first day of the Make in Odisha (MIO), Sajjan Jindal, the Chairman of JSW Group announced an investment commitment worth Rs 1 Lac Crore in the State, translating into almost 20% of the Rs 7 lac crore total investment commitment received from 67 investors. 

During the conclave, the JSW Group Chairman announced that the company is set to invest in various expansion projects across verticals including steel making, silicon wafers etc.

There are proposals for 30 MTPA crushing and screening unit and 35 MTPA beneficiation plant in Joda-Koira sector. Similarly, 30 MTPA grinding and slurry pumping unit are also lined up in same region. Second 30 MTPA slurry pipeline and 30 MTPA filtration plant. The pipeline will be connecting from mines to ISP at Paradip. 

Capacity expansion is another step to take steel production to the next level. The enhancement of steel production capacity in Jagatsinghpur plant is also in company’s plans. With the proposed enhancement, the total production capacity of the integrated steel plant is set to go up from 12 MTPA to 24 MTPA. 

This apart, the company is also focusing on solar projects. 1000 MW floating solar project at Hirakud and 17 GW integrated plant for solar photovoltaic at Sahajbahal in Jharsuguda have also been planned.

Notably, the lined-up projects would boost huge employment opportunities in the state. Around 45,000 direct and indirect local employments are expected to be generated. In the previous commitment of Rs 60,000 crore investment, around 75,000 job opportunities were opened for the local people.

Jindal said, “We had promised to invest Rs 60,000 crore in the previous MIO edition, and so far, we have already invested around Rs 37,000 crore and rest is in process.”

Currently JSW has 2 cement plants at Sundergarh & Jajpur; five mines with combined capacity of 30 MTPA; a wholly owned subsidiary BPSL steel plant with a capacity of 2.5 MTPA slated for expansion. JSW’s proposed to 12 MTPA integrated steel plant at Paradip inclusive of captive jetty, captive power plant, cement plant and supporting slurry pipeline and beneficiation plant is well on track.

JSW Group Chairman applauded the exemplary leadership of Chief Minister of Odisha Naveen Patnaik and his team. Jindal said, “Odisha will be one of the first state to reach trillion-dollar economy in India.”