JSW Steel and JSW group entities are set to revolutionize Odisha’s industrial landscape with a staggering investment of Rs 65,000 crore for an integrated manufacturing complex in the Jagatsinghpur district. This transformative project encompasses an integrated steel manufacturing facility, a power plant, a cement unit, and jetties, positioning JSW as a driving force for economic development in the region.
The foundation stone for this ambitious endeavor was laid by Odisha Chief Minister Shri Naveen Patnaik, alongside JSW group chairman Sajjan Jindal and Parth Jindal, managing director of JSW Cement and JSW Paints. The integrated green steel plant, situated at Dhinkia Nuagaon and Gadakujanga under Erasama tehsil, is expected to generate approximately 30,000 direct and indirect jobs, fostering a robust ancillary and downstream ecosystem.
The allocation of over 2,958 acres of land by the Industrial Development Corporation of Odisha reflects a strategic partnership, with 30% dedicated to preserving vital natural resources such as forests and water bodies. This initiative not only symbolizes JSW’s commitment to sustainable development but also marks a significant step in rejuvenating a region that had earlier seen the withdrawal of a major steel project.
In addition to the steel plant, JSW’s comprehensive project includes a captive power plant, cargo-handling jetties, a cement manufacturing unit, and a township. This venture aligns with JSW Steel’s ongoing expansion plans, aiming to elevate its annual capacity in India from 28.2 million tonnes to 37 million tonnes by FY25, with a grand vision to achieve a capacity of 50 million tonnes by FY31.
Beyond steel, the JSW Group has further solidified its commitment to Odisha’s growth by signing an agreement for an integrated electric vehicle and EV battery manufacturing project in Cuttack and Paradip. This additional investment of Rs 40,000 crore is anticipated to create more than 11,000 jobs, reinforcing JSW’s role as a catalyst for socio-economic progress in the state.
In conclusion, JSW’s monumental investment not only transforms the industrial landscape of Odisha but also exemplifies its commitment to sustainable and inclusive development, positioning the conglomerate as a hero driving positive change in the region.
Prasanta Patnaik