JSW Group to Establish Integrated Steel and Cement Plants in Odisha with Rs 65,000 Crore Investment
JSW Group plans to set up a new steel plant and cement plant in Odisha, with a combined investment of Rs 65,000 crore.
The JSW Group, an Indian conglomerate, has announced its intention to establish an integrated manufacturing facility in Odisha, India. The project will include a steel plant with an annual capacity of 13.2 million tons, expected to generate 30,000 jobs.
Additionally, a port and jetty project will be able to handle 52 million tons of cargo per annum. The cement plant will have the capacity to produce 10 million tons, and an iron ore slurry transportation system will be able to transport 30 million tons per annum.
The Industrial Development Corporation of Odisha (IDCO) has handed over 2,958 acres of land to JSW for setting up the facility, with 30% of the total project land dedicated to preserving forests and water bodies.The land for the project was earlier earmarked for a 12 MTPA steel plant by Korean Steel Major Posco in 2005, with an investment of Rs 52,000 crore.
However, the project failed to take off following stiff opposition from local people, forcing Posco to withdraw in 2017. The proposal ran into rough weather last year when the National Green Tribunal suspended Posco's license to set up a steel plant
Source:The Economic Times
