Sajjan Jindal-controlled JSW Group with interests in steel, infrastructure and energy, has sought the green nod for its mega steel plant cum captive power plant (CPP) proposed near Paradip in Odisha.
The expert appraisal committee (EAC) of the Union ministry of environment, forest & climate change (MoEF&CC) would take up JSW Steel's case at its upcoming meeting on industrial projects scheduled on November 15.
"JSW's bid for environment clearance for steel plant and CPP would be vetted by EAC at its next meeting for industrial projects. Along with the steel plant and CPP, a cement unit by the group is also on the agenda", said an official source.
JSW Steel had originally proposed to set up a 10 mtpa capacity shore-based steel plant in Odisha. It had asked for 4500 acres of land for the steel mill. Later, the company has submitted a revised project plan, intending to go for a higher capacity steel project.
With the reconfiguration in its proposed project expected to be accompanied by the latest technology, JSW Steel is likely to settle for a smaller land parcel measuring 2700 acres. The Odisha government is set to hand over the same land acquired originally for a 12 mtpa steel project proposed by Posco. JSW Steel had sought the same land which the state-owned Odisha Industrial Infrastructure Development Corporation (Idco) procured from betel vine growers and other farmers. The steel firm had asked for transfer of all land parcels at the rate of Rs four lakh per acre
JSW Steel has pledged an investment of Rs 50,000 crore on the steel project and associated facilities. The steel plant is expected to go on stream in four years from the zero date and when fully operational, it will create jobs for around 50,000 people. To optimise raw material costs, JSW Steel has committed an investment of Rs 3700 crore on a slurry pipeline for transporting 30 million tonnes of iron ore each year from Joda to Paradip. Both the projects have been approved by the High-Level Clearance Authority (HLCA), the highest body to clear investments.
To secure iron ore supplies for its integrated steel project, the company has pitched for a long-term agreement for 50 years with state-owned Odisha Mining Corporation (OMC) to supply 30 million tonnes per annum of iron ore fines at IBM (Indian Bureau of Mines) declared price.