JSW Group to Establish 5-MTPA Steel Plant in Odisha with Rs 35,000 Crore Investment

The Sajjan Jindal-led JSW Group has signed an MoU with the Odisha government to establish a 5-million tonnes per annum steel plant in Keonjhar district. The venture represents a Rs 35,000 crore investment and aims to enhance regional benefits from local mineral resources. Collaboration talks with POSCO are ongoing.

The Sajjan Jindal-led JSW Group has taken a significant step in the steel industry by signing a Memorandum of Understanding (MoU) with the government of Odisha. This move will see the establishment of a new 5-million tonnes per annum steel plant in Keonjhar district, representing an investment of approximately Rs 35,000 crore.

The agreement, signed on the first day of the 'Utkarsh Odisha-Make in Odisha Conclave,' was witnessed by Chief Minister Mohan Charan Majhi. JSW Group aims to leverage the rich iron ore reserves of Keonjhar. Currently, the locals do not benefit from these resources as the minerals are being exported.

While South Korean steel major POSCO has shown interest, JSW is still deciding on potential collaborations. In the broader context of Odisha's industrial growth, notable figures like Kumar Mangalam Birla and TV Narendran highlighted their substantial investments in the state at the summit.

(With inputs from agencies.)