Naveen Jindal-owned Jindal Steel and Power Ltd (JSPL) will set up Odisha’s first private industrial park adjacent to its 6 million tonne steel plant at Angul.
Spread over 500 acres of land, the park will mainly house steel downstream, ancillary and chemical units.
While JSPL will spend about Rs 6 billion to develop the park, it expects the facility to attract investments to the tune of Rs 100 billion in the form of establishment of various units in the complex.
JSPL will provide the necessary raw materials for downstream steel units in the park. Besides, with the Angul plant using coal gasification route to make steel, the by-products of this unique process can be used as feed for a variety of chemical industry, said the sources.
JSPL will showcase the project in the upcoming 'Make in Odisha' conclave to be held from November 11 to 15 at Bhubaneswar.
The detailed project report of the park is under preparation and a formal approval to the project from a state level committee headed by the chief secretary is awaited.
“We expect the state government to approve the project within this month”, said a company official. “The land for the park has already been acquired and we hope the state government to hand us over the land in 2 to 3 months. We plan to start developing the park from early 2019”, he added.
JSPL Chairman Naveen Jindal revealed the plan to set up the industrial park at a roadshow on Make in Odisha meet attended by Chief Minister Naveen Patnaik at Delhi on Wednesday. Speaking on the occasion, Jindal lauded the chief minister and the state administration for extending support to overcome many challenges in the implementation of his Rs 450 billion steel project in the state and invited the assembled investors to visit his state-of-the-art facility at Angul during the Make in Odisha event in November.
Although several sector-specific parks have either been set up, or are in the pipeline, in Odisha, the food processing parks in Rayagada and Khurda, seafood processing park near Bhubaneswar, steel downstream park at Kalinganagar, aluminium park at Angul and Jharsuguda, plastic park at Paradip, textile park near Bhadrak, the one planned by JSPL at Angul will be the first fully privately owned industrial estate in the state.
While some of the parks have been set up by the state-owned Odisha Industrial Infrastructure Development Corporation (IDCO), others are developed in joint sector by IDCO in partnership with the private company.
It may be noted Odisha has formulated a separate scheme to encourage investors to set up Private Industrial Estates.