JSW Steel: Work on JSW Steel's Rs 65 thousand crore plant started, Naveen Patnaik laid the foundation stone.

JSW Steel: Work on JSW Steel's Rs 65 thousand crore plant started, Naveen Patnaik laid the foundation stone.

Steel Manufacturing Complex: Steel sector giant JSW Steel has decided to set up a huge plant in Odisha with an investment of Rs 65 thousand crore. On Friday, Odisha Chief Minister Naveen Patnaik inaugurated the plant by laying the foundation stone of it in Paradip. JSW Steel and JSW Group will complete this green steel manufacturing complex in several phases. The company claims that with the help of this plant, about 30 thousand people will get employment. This complex will also have steel manufacturing unit, jetties, power plant and cement unit. 

Hon'ble @CMO_Odisha, Shri @Naveen_Odisha, marks a historic moment by laying the foundation stone for JSW’s Mega Integrated Green Steel Manufacturing Complex in Paradip, Odisha!

Here's what you need to know:

➡️@JSWSteel & @TheJSWGroup entities propose to invest approximately… pic.twitter.com/NAFodXfwBX

— JSW Group (@TheJSWGroup) February 16, 2024

More than 30 thousand direct and indirect jobs will be created

In the inauguration program, many dignitaries including JSW Group Chairman Sajjan Jindal, Parth Jindal, Industries Minister Pratap Kesari Deb, VK Pandian, Hemant Sharma, Anil Kumar Singh were present along with the Chief Minister. About 30 thousand villagers, technocrats and industry experts also participated in the ground breaking ceremony. It is expected that this complex will prove to be very important for the economy of the state. This will generate more than 30 thousand direct and indirect employment. JSW Group claims that this plant will be unique of its kind in the world. In this, along with the best technology, complete care will be taken of cleanliness and greenery. 

Mega complex will be developed on 2958 acres of land

According to JSW Group, the capacity of this steel plant will be 13.2 metric tons per year (MTPA). Electricity will be supplied from the power plant built inside it. With the help of jetties, it will be easier to wash goods. Besides, a cement plant and a residential complex equipped with modern facilities will also be developed. The plant will be built in Dhinkia Naugaon and Gadkujunga of Erasama tehsil of Jagatsinghpur district. Industrial Development Corporation of Odisha has given 2958 acres of land to JSW Group for the plant. 30 percent of this land will have to be used for the protection of forests and water sources. 

40 thousand crores will be spent on EV and battery manufacturing plant 

Earlier, JSW Group had decided to set up a plant in Odisha for electric vehicle (EV) and EV battery manufacturing. For this the company is going to invest about Rs 40 thousand crores. This decision of the company will create about 11 thousand jobs. JSW Group has also signed an MoU with the Odisha government for this plant. These plants can be set up in Cuttack and Paradip. This will bring huge benefits to the green energy sector. Under this project, an electric vehicle battery plant with a capacity of 50 gigawatts will be set up. Along with this, electric vehicle, lithium refinery, copper smelter and parts making plant will also be set up.

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