JSW Steel gets nod for Rs 50,000-cr mega steel plant in Odisha

Panel approves 10 projects worth Rs 1.10 lakh crore

Sajjan Jindal-led JSW Steel got the go ahead to set up its 10 million tonne steel project in the state at Paradip at a cost of Rs 50,000 crore. The steel project when fully operational promises to create around 30,000 jobs.

Another project by JSW Steel — a slurry pipeline to be built at a cost of Rs 3,700 crore from Joda to Paradip for transporting 30 million tonne of iron ore per annum was also approved today by the High-Level Clearance Authority (HLCA). The HLCA chaired by the chief minister is the highest body to clear investment proposals.

The HLCA cleared 10 projects in all with investment totalling to Rs 1.10 lakh crore and potential to generate 46,054 jobs.

“JSW Steel has asked for 4,500 acres of land for their steel plant. But, it has not been decided if the project would come up at the Posco site. The steel plant is expected to be commissioned in four years”, said Odisha's Chief Secretary Aditya Padhee.

Asked if JSW Steel had submitted a proposal for a commercial port, he said, the company has an intent for a captive port but it has not come to the HLCA.

Apart from JSW Steel, the HLCA approved a 3,200 Mw coal-fired power station proposed by NLC Ltd (Neyveli Lignite Corporation) at Jharsuguda. NLC has committed an investment of Rs 23,569 crore on this project.

Two projects by National Aluminium Company (Nalco) with a combined investment of over Rs 7,100 crore were okayed by the authority. Nalco has lined up Rs 10,000 crore investment to expand the capacity of its aluminium smelter at Angul from 0.46 to 0.96 million tonne per annum (mtpa). Nalco is also going for ramp up of its alumina refinery at Damanjodi by adding an additional stream of one mtpa which entails an investment of Rs 4,357.20 crore.

In the steel sector, the HLCA okayed proposals by Bhushan Power & Steel Ltd (BPSL) and National Mineral Development Corporation (NMDC). NMDC is investing Rs 1,810 crore on a pellet plant of two mtpa capacity at Dhamra. BPSL has proposed to invest Rs 4,252.40 crore on a similar facility of 5.5 mtpa at Jharsuguda.

Among other proposals, Zuari Group firm Paradip Phosphates Ltd (PPL) is investing Rs 9,459.17 crore on a urea plant and di-ammonium phosphate (DAP) plant at Paradip. Another fertiliser maker Deepak Fertilizers & Petrochemicals Corporation Ltd would invest Rs 1,750 crore on an ammonium nitrate plant of 0.33 mtpa.

Dalmia Group promoted OCL India Ltd's proposal to set up 2.25 mtpa cement plant at a cost of Rs 1,994.98 crore was also cleared.