Home ECONOMY Jindal Steel to increase investment to Rs 1 lakh crore in Odisha

Jindal Steel to increase investment to Rs 1 lakh crore in Odisha

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Bhubaneswar: Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said the company will increase its investment in Odisha from Rs 45,000 crore to Rs 1 lakh crore by 2030.

Among others, the investment will go towards raising the capacity of Angul steel plant from 6 million tonne per annum (MTPA) currently to 20 MTPA, doubling the number of jobs to 1 lakh in the process, said Jindal at the plenary session of the Make in Odisha Conclave here.

“In 2003, we started setting up a 6-MTPA steel plant in Odisha based on indigenous raw materials. And for the first time in the world, we set up a steel plant based on coal gasification. But after de-allocation of the same (coal blocks) following the Supreme Court order, it was very challenging for us,” he said.

But with the encouragement from the Odisha government, JSPL began putting up India’s largest and most modern blast furnace, largest sinter plant, coke oven and steel-making factory, he added.

Along with the steel plant at Angul, which is Odisha’s largest steel plant, JSPL is operating a 9-MTPA pellet plant at Barbil.

JSPL is setting up an industrial park at Angul.

“People coming to our industrial park will not face any of the challenges vis-a-vis land, water or electricity that we faced. We are going to make all these very very smooth,” he assured.