JSW group to invest ₹1 lakh crore in Odisha over 10 years

The JSW Steel has proposed to build the plant at the same site in Jagatsinghpur that was once allocated to Korean steelmaker Posco for its steel project

The Sajjan Jindal-owned JSW group today said it will invest over ₹1 lakh crore through several projects in Odisha, including a 13.2 million tonne per annum steel complex in Jagatsinghpur district of the state.

During the discussion, CM Naveen Patnaik stressed on maximum value addition of state resources within the state for accelerating job creation and revenue generation. (Photo@sajjanjindal)

JSW Group’s managing director Sajjan Jindal, who held a meeting through a video link with chief minister Naveen Patnaik on Monday, said the integrated steel project of JSW with a capacity of 13.2 MTPA at Jatadhar in Jagatsinghpur district will come up soon. Jindal assured CM Patnaik that the JSW is fully committed to all its projects in the state.

The JSW Steel has proposed to build the plant at the same site in Jagatsinghpur that was once allocated to Korean steelmaker Posco for its steel project. In 2017, Posco had to abandon the project, 13 years after it signed an MoU to build a steel plant, due to lack of dedicated iron ore mines and popular resistance at the project site.

Jindal said that the JSW is tying up with IIM Sambalpur to create the “JSW Centre for Development Studies for Odisha.” The JSW Steel will also establish a 100-bed hospital and a school at Koida in Sundargarh district in PPP mode with an objective to develop mining areas for the benefits of the local people.

During the discussion, Patnaik stressed on maximum value addition of state resources within the state for accelerating job creation and revenue generation.