The State Government has decided to allocate the land near Paradip acquired for South Korean steel major Posco to the JSW Steel.
The JSW Steel had earlier proposed to the State Government to set up a mega steel plant of 10-MTPA capacity at an investment of Rs 50,000 crore.
“The Government has decided to allocate 2,900 acres of land to the JSW to set up a steel plant. The land was earlier allotted to the Posco. The authorities of JSW have been directed to deposit money for the purpose,” Industries Minister Ananta Das said.
The High-Level Clearance Authority (HLCA) headed by Chief Minister Naveen Patnaik has already approved the JSW project since 2017. The steel plant is expected to go on stream in four years and generate around 30,000 jobs.
The JSW has expressed interest to have a long-term agreement with the State-owned Odisha Mining Corporation (OMC) for iron ore supply for its shore-based integrated steel project.
Notably, though the Posco-India has not officially declared withdrawal of its project, it has virtually stopped all activities in the State.
The State-run Idco had acquired 2,700 acres of land for the Posco, which did not proceed with its project because of not being assured to get raw material linkage after the MMDR Act was amended in 2014.
Recently, the JSW was allowed a jetty for its project’s operations though the company had urged for a captive port.
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