JSPL Announces Rs 70,000 Crore Investment in Odisha for Industrial Growth
Key Ideas
  • JSPL plans to invest an additional Rs 70,000 crore in Odisha, aiming to drive industrial growth and improve the quality of life for its people.
  • The company is considering setting up a steel plant in Keonjhar district to align with the vision of the Chief Minister.
  • JSPL's Angul plant is set to double its capacity to 12 MTPA this year and reach 25.2 MTPA by 2030, focusing on hydrogen-based green steel production.
  • JSPL has invested nearly Rs 1 trillion in Odisha and over Rs 900 crore in various social initiatives over the past decade.
Jindal Steel & Power Ltd (JSPL) has announced an additional investment of Rs 70,000 crore in Odisha to further industrial growth and enhance the quality of life for the people of the region. The company's chairman, Naveen Jindal, expressed the vision to position Odisha as a global industrial leader. This investment is expected to not only drive economic development but also uplift thousands of families. JSPL is exploring the establishment of a new steel plant in Keonjhar district to support the state's development goals. JSPL's Angul plant, known for operating India's first coal gasification plant for steel production, is expanding its capacity to 12 MTPA this year and aims to reach 25.2 MTPA by 2030. The focus on green steel production, particularly hydrogen-based, will make it a significant player in sustainable steel manufacturing. With total investments nearing Rs 1 trillion in Odisha, JSPL has also allocated funds for various social initiatives including healthcare, education, women empowerment, and rural livelihood. This long-term commitment underscores JSPL's dedication to both industrial progress and community welfare in the region.
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