Steel major JSW Steel has proposed to set up a Rs 15,000-crore project in Kendrapada. This was informed by JSW Steel CMD Sajjan Jindal here on Monday after meeting Chief Minister Naveen Patnaik at the State Secretariat. Kendrapada BJD MP Baijayant Panda was present during the meeting.
The proposed plant would be of 10-million-tonne-perannum capacity. This would be the third greenfield project planned by JSW Steel. The idea is to have steelmaking facilities with wherever raw material is available.
Jindal said his group wants to retain its position as the second largest steel producing group in the country, after the Steel Authority of India ltd (SAIl). He said the plan is to build a capacity of 50 million tonnes within the OP Jindal group by 2020.
It may be noted that the JSW Group is part of the OP Jindal Group. A $11-billion conglomerate, JSW has set up business facilities in various core sectors of India. With verticals that are exploring innovative and sustainable avenues in steel, energy, infrastructure and cement, the group is paving the way for further expansion of its empire. JSW Steel now has a capacity of 14 MTPA.