JSPL announces over Rs 1 trillion investment in Odisha in next 10 years

Jindal Steel and Power Limited will invest over Rs 1 trillion in Odisha to create employment opportunities in the state, its Chairman Naveen Jindal has said

Jindal Steel and Power Limited (JSPL) will invest over Rs 1 lakh crore in Odisha to create employment opportunities in the state, its Chairman Naveen Jindal has said.

The industrialist said this responding to a meeting chaired by Odisha Chief Minister Naveen Patnaik on Tuesday in which five major industrial projects worth Rs 1,46,172 crore in metal and metal downstream sectors were approved.

"Thank you Hon'ble CM @naveen_odisha ji for approving the expansion of @JSPLCorporate's 6 MTPA existing Integrated steel plant to 25.2 MTPA. This expansion will make our Angul plant the largest single location steel plant capacity in the world," Jindal said in a Tweet on Tuesday.

He further said in the next 10 years JSPL will invest more than Rs 1 lakh crore and create huge employment opportunities in the state. Such decisions will go a long way in boosting industry confidence and propel our efforts towards building a prosperous Odisha and a self-reliant India.

The official twitter handle of the office of Chief Minister of Odisha on Tuesday said the State High Level Clearance Authority chaired by the CM approved five major industrial projects worth Rs 1,46,172 crore in metal and metal downstream sectors. These projects will almost double steel production of #Odisha to 58 million tonnes and create about 27,000 jobs.

"These projects include expansion of Bhushan Power and Steel Integrated Steel Plant in Sambalpur, expansion of @TataSteelLtd crude steel production, hot-rolled coil, cold-rolled and long products in Jajpur, and expansion of @JSPLCorporate existing Integrated steel plant in Angul," the chief minister's office said.

These projects will add steel production capacity of 28 million tonnes, in line with CM's vision of 2030 to make Odisha the steel hub of India by increasing production to 100 million tonnes, it said.