June 23, 2024

JSW Steel acquires land in Odisha for a new plant

8th January 2024 | TITN Team
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The necessary 2,950.31 acres have been given to JSW Utkal Steel, a wholly owned subsidiary of JSW Steel, in order to establish a 13.2 million-ton greenfield integrated steel factory in Odisha.

 

The steel manufacturer said in 2022 that it will gradually invest ₹65,000 crore to establish a steel mill in Odisha. The State already has significant reserves of iron ore owned by the corporation.

 

The land piece in Odisha, which is closer to the Paradip port, was originally designated for the massive Korean company Posco, which intended to build a 12-mtpa steel factory.

 

The Odisha government has already leased the 272.51 acres of non-forest land to JSW Utkal Steel, it continued, without specifying when construction would begin.