JSW Utkal Steel is a wholly owned subsidiary of JSW Steel. It has been granted the environmental clearance by the Union Ministry of Environment and Forest to set up a greenfield integrated plant of 13.2 Million tonnes per annum (mtpa).
The company plans to invest approximately 65,000 crore in the modern integrated steel plant and associated facilities. The government of Odisha will hand over the land to the company on Monday. This is when phase-wise work can begin for the project, according to the company in a statement.
The company currently has 28 million tonnes per annum of steel manufacturing capacity in India as well as the USA. It has a plan to reach 37.5 mtpa capacity by FY25.
Mega plans
The mega project is expected create more jobs in the region as well as boost the Odisha economy. After successful public hearings and approval by MoEF, this project is the largest in the manufacturing sector.
Budgets have been allocated to social interventions such as education, skills development, social infrastructure and waste management. The company also plans to make expenditures for mitigation and protection of the environment based on its environment impact assessment.
Posco plant
The steel plant is being built by the company near Paradip port. This is where Posco wanted to build a 12-mtpa facility. The JSW project will require 2,950 acres. 2,700 acres were acquired by the government in 2013 for the Posco project.
In 2005, the Odisha government and Posco signed a Memorandum of Understanding. The South Korean steel giant, however, had to abandon the project for multiple reasons. These included delays in environmental clearances or protests by the locals.
Published on
April 11, 2022