JSW Steel to invest Rs 150 crore to set up steel facility in Kashmir

Sajjan Jindal-led JSW Steel today said it will be investing around Rs 150 crore to set up a colour-coated steel facility in Kashmir.

The planned downstream manufacturing facility of capacity 120,000 tonne per annum will also house special lines to produce “Steel Sandwich Panels” and ‘Steel Doors” for the local market here in Jammu and Kashmir, said the release.

Today, Union Minister for Home, Amit Shah also presented land allocation papers to Sajjan Jindal for the same.

The land allocated to JSW Steel is owned by the City and Industrial Development Corporation (CIDCO) and is part of an industrial park in Kashmir. JSW Steel facility, however, is the first to be housed there, said a source close to the development.

To be set up in Lassipora, Pulvama, will be an addition to the already existing capacity of 27 million tonne.

"This facility shall provide immense benefits to local businesses and society in a meaningful way and provide employment opportunities to the local youth," the release quoted Jindal as saying.

To begin with, a team of two-three officials who are natives of Kashmir will be deployed at the facility and then gradually the team will be built, said the source.

"Local hiring has also been already done for this plant and currently they are undergoing training at our Washim training centre,"said the source.

By 2025, JSW Steel aims to produce 40 million tonne of steel annually.