JSPL To Invest Over 1 Lakh Crore in Odisha In Next 10 Years

Jindal Steel and Power Limited (JSPL) Chairman Naveen Jindal announced that the company would invest over Rs 1 lakh crore in Odisha, creating huge employment opportunities in the state.

The industrialist said this during a meeting chaired by Odisha Chief Minister Naveen Patnaik, where five large industrial projects worth Rs 1,46,000 crore in metal and metal downstream sectors were approved.

Jindal promised that the company’s projects in Odisha would create huge employment opportunities for the people. Such projects will also boost industry confidence and kickstart a revival in business activities in the state.

The office of the Chief Minister of Odisha took to Twitter to confirm that the State High-Level Clearance Authority approved five large industrial projects worth Rs 1,46,172 crore in metal and metal downstream sectors. These projects will almost double Odisha’s steel production to 58 million tonnes and create about 27,000 jobs.

“These projects include expansion of Bhushan Power and Steel Integrated Steel Plant in Sambalpur, expansion 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,” the chief minister’s office tweeted.

The projects will boost the steel production in the state and go a long way in supporting the CM’s vision to make Odisha the steel hub of India by 2030 by increasing production to 100 million tonnes.

The other projects that were approved during the meeting include:

  • Expansion of Bhushan Power and Steel’s integrated plant in Sambalpur with an investment of Rs 55000 crore.
  • Expansion of Tata Steel’s facility in Jajpur with an investment of Rs 47000 crore
  • Expansion of Rungta Mines Steel Plants in Dhenkanal and Kendujhar with investments of Rs 11000 crore and Rs 8000 crores respectively.
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