Odisha Govt gives nod for five mega steel projects to come up in Odisha
Team News Riveting
Bhubaneswar, July 7
Jindal Steel and Power (JSPL), owned by Naveen Jindal, would expand the capacity of its existing integrated steel plant in Angul from the 6 million tonne per annum (MTPA) to 25.2 MTPA.
The State High Level Clearance Authority headed by Chief Minister Naveen Patnaik today gave the consent to the JSPL plan along with four other projects of mega steel plant with an investment capacity of Rs 1.46 lakh. The state government had accorded in-principle approval for the projects having 27.5 million tonne steelmaking capacity.
The state has been able to attract investments to the tune of Rs 2.96 lakh crore in 2020-21 despite the COVID-19 pandemic, and with the additional investments the total investments since 2020 will be Rs 4.43 lakh crore in the state. The new investment to the tune of Rs 1,46,172 crore in metal and metal downstream sectors during the COVID-19 pandemic also made the state one of the favoured investment destinations in the country.
The proposed investment of Rs 24,652 crore by the JSPL would take steel maker’s total investment to Rs 1,00,670 crore in the state, making it the largest single-location steel plant capacity in the World. The project will create employment opportunities for over 1,000 persons.
Of the other projects, a mega steel plant of 3 MTPA capacity would be set up in Keonjhar, a maiden major investment in the district.
The five projects are expected to create employment opportunities for 26,959 persons. The projects will help to achieve the goal to produce 100 million tonne of steel by 2030. The state currently has a production capacity of 30 million tonne.
The projects that got the approval included the expansion of Bhushan Power and Steel integrated steel plant from 5 MTPA to 15 MTPA at an investment of Rs 55,000 crore. The project will be set up at Rengali in Sambalpur district and generate potential employment opportunities for over 10,000 persons.
Tata Steel also received nod to enhance its crude steel production from 3 MTPA to 8 MTPA, hot rolled coil from 3 MTPA to 7 MTPA, 2.2 MTPA cold-rolled products and 2 MTPA long products against an investment of Rs 47,599 crore to be set up in Kalinga Nagar, Jajpur, also received the government approval. It would generate employment opportunities for over 4,625 persons.
The expansion of Rungta Mines’ integrated steel plant from the proposed capacity of 2.85 MTPA to 7.55 MTPA by adding a capacity of 4.7 MTPA at an investment of Rs 11,001 crore to be set up at Jharbandh in Dhenkanal district. This will generate potential employment opportunities for over 6,200 persons.
Similarly, the expansion of Rungta Mines steel plant capacity from 0.53 MTPA to 3 MTPA at an investment of Rs 7,920 crore also got a nod. The project will be set up at Karakhendra in Keonjhar district, and generate employment opportunities for over 5,134 people.
