Jindal Steel & Power Ltd (JSPL), which proposed to set up a six million tonne per annum steel plant at Parang in Angul district , has decided to ramp up the capacity of the project to 20 mtpa making it the world's biggest single location steel facility.
The cost of the 20 mtpa steel plant is estimated at Rs 90,000 crore and the plant will reach this capacity in the next 10 years.
"JSPL will build the world's largest steel plant at Angul which would have a capacity of 20 mtpa. The first phase of our steel plant will have a capacity of two mtpa which we hope to achieve by March 2012 and by the end of 2013, we would be reaching a capacity of six mtpa. Work is progressing well at the site of our steel project and more than 15000 people are working day and night to commission the steel plant. In the next ten years, JSPL's cumulative investments in Orissa will be more than Rs 1.10 lakh crore”, Naveen Jindal, executive vice chairman and managing director of JSPL told media persons after emerging out of a high-level meeting with the state Chief Minister Naveen Patnaik.
On the company's proposed Coal-To-Liquid (CTL) project, he said that the project is being taken up at a cost of Rs 50,000 crore and it will have a refining capacity of four mtpa and an oil production capacity of 80,000 barrels per day.
The project would require 5541 acres of land and generate direct as well as indirect employment for 32,000 people. The Government of India has allocated the Ramchandi coal block in Orissa under the command area of Mahanadi Coalfields Limited (MCL) for the project. The CTL project needs around 30 million tonnes of washed coal every day.
Besides the steel plant, the company is also setting up a 1320 MW independent power plant at an investment of Rs 6600 crore and a downstream industrial park at Parang at a cost of Rs 500 crore. Together, all these projects would generate direct and indirect employment for 82,050 people. JSPL has already invested Rs 10,000 crore on its steel project in Orissa and in addition to this, it has also placed equipment orders worth Rs 5000 crore.
Asked on the conditional clearance accorded to JSPL's integrated steel plant by the Union ministry of environment & forests (MoEF), Jindal said, “Every environmental clearance comes with a set of conditions and we will demonstrate that we will comply with these conditions.”
