Steel, Cement, EVs: JSW goes big on Odisha
JSW Group is investing about ₹2 lakh crore in Odisha in steel, cement and electric vehicles among other businesses, aiming to establish one of India's largest industrial complexes by leveraging the state's abundance of natural resources such as iron ore.
«Whenever and wherever JSW Group contemplates making investments, Odisha has always been the top destination in mind,» group chairman Sajjan Jindal told ET. «We have already invested ₹30,000 crore here so far and we are committed to invest an additional ₹1,65,000 crore.»
Last week, the $23 billion JSW group signed an MoU with the Odisha government for an electric vehicle project. The company has a presence in steel manufacturing, power, cement and ports in the state.
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JSW Steel and JSW Group will spend about ₹65,000 crore on setting up an integrated steel manufacturing complex at Jagatsinghpur in the state. This complex will also have a captive power plant, a cement manufacturing unit and a port facility, apart from a modern township, they said on Thursday.
«We are going to set up a 13.2 million tons per annum integrated green steel manufacturing facility here. Apart from this, we will have a 900 MW power plant, a 10 million tons per annum cement plant and a 52 million tons per annum greenfield jetty port,» Jindal said. The ₹65,000 crore investment in Jagatsinghpur is likely to generate 30,000 direct and indirect jobs, he said.
JSW has been given 2,958 acres of land by
