On Friday, JSW Steel, a member of the $23 billion JSW Group, has revealed its commencement of construction for a new Rs 65,000 crore integrated steel production facility in Paradip, Odisha, focusing on environmentally friendly practices.
JSW Steel is one of India’s leading integrated steel manufacturers, producing a wide range of products, including hot-rolled and cold-rolled coils, galvanized products, and color-coated products. With a strong focus on innovation and sustainability, JSW Steel has established itself as a leader in the steel industry, known for its high-quality products and customer-centric approach.
The company operates state-of-the-art manufacturing facilities and has a strong presence in both domestic and international markets. JSW Steel is committed to driving growth through technological excellence, operational efficiency, and sustainable practices.
In an official filing with the exchange, the company revealed plans for a new industrial complex. The complex will feature a steel plant with a capacity of 13.2 million tonnes per annum (MTPA), along with a captive power plant, jetties for cargo handling, a cement manufacturing unit, and a modern township.
The investment for this integrated complex by JSW Steel & JSW Group entities is estimated to be around ₹65,000 crore, pending necessary approvals, and will be implemented in phases. The ground-breaking ceremony for the project was attended by over 30,000 individuals, including residents from nearby villages, elected officials, experts in the field, and technocrats.
Odisha Chief Minister Naveen Patnaik, along with top dignitaries from the group, laid the foundation stone for the facility. Located in Dhinkia Nuagaon and Gadakujanga under Erasama Tehsil, Jagatsinghpur district, the integrated greenfield complex will cover 2,958 acres of land provided by IDCO to JSW. The company has announced its intention to allocate 30% of the land for the conservation of forests and water bodies.
The project is also anticipated to spur economic growth in the area, creating a significant number of jobs. JSW Steel stated that the integrated green steel project is expected to boost the region’s economy by establishing a strong network of ancillary and downstream industries, potentially creating around 30,000 direct and indirect jobs.
Described as a unique and world-class green technology steel manufacturing facility, the integrated complex is designed to operate in a circular economy framework. It aims to set a global standard for cleanliness, environmental friendliness, and cutting-edge technology. JSW had previously revealed intentions to establish a ₹5,500 crore facility for manufacturing grain-oriented electrical steel, in collaboration with JFE Steel Corporation from Japan.
The group had inked a MoU with the Odisha government for the establishment of an electric vehicle and battery manufacturing unit in Cuttack and Paradip. The company had announced an investment of ₹40,000 crore for these large-scale manufacturing plants.