JSW Steel, one of the leading steelmakers of India, promoted by Sajjan Jindal is planning to set up a new steel plant in the mineral rich state of Odisha. They are presently exploring the land situated in the Kendrapara district, Odisha. The company plans to invest Rs 15,000 crore in this new steel plant project. The location has not been finalized yet.
“We have an investment plan of Rs 15,000 crore for a steel project in Odisha. We had identified 2-3 sites for the steel plant and Kendrapara has been found to be the most suitable site. Our basic idea is to locate the steel plant close to a port so that getting raw materials will be easier. Setting up the steel plant in the vicinity of a port will also ease exports of finished steel products”, said JSW chairman and managing director (CMD) Sajjan Jindal.
However, the plant’s total production capacity is not known as the exploration of the land is not yet over. The plant’s capacity might vary from a level of 3 MnTPA to a level of 10 MnTPA, says, Mr. Jindal.
On one side in Odisha, where the great giants such as ArcelorMittal and POSCO are yet to decide on their planned ventures and are likely to step back from the land, JSW on the other hand is planning to set up its new project in the same land.
According to Mr. Jindal, Odisha is a good place for building up a steel industry owing to the availability of raw material in the state. Also, the other two companies of Jindal group namely Jindal Stainless Ltd and Jindal Steel & Power Ltd (JSPL) have their plants in the state and flourishing well in their businesses.