Jindal Steel & Power to invest additional Rs 70,000 crore in Odisha

Bhubaneswar: Jindal Steel & Power on Tuesday said it will invest an additional Rs 70,000 crore in Odisha in the coming years.

The announcement was made by the company's Chairman Naveen Jindal during the ‘Utkarsh Odisha-Make In Odisha Conclave' here. “Our vision is to make Odisha a global industrial leader, while improving the quality of life for its people consistently. This additional Rs 70,000-crore investment will not only drive industrial growth, but also uplift the quality of life of thousands of families in Odisha,” Jindal said. He also said the company was exploring the possibility of setting up a steel plant in Keonjhar district to fulfill the vision of Chief Minister Mohan Charan Majhi, he said.

Jindal Steel & Power operates India's first coal gasification plant for steel production in Angul, with focus on reducing dependence on imported coking coal. “The company's Angul plant, currently at 6-MTPA capacity, will double to 12 MTPA this year and is set to reach 25.2 MTPA by 2030, positioning it as the world's largest and greenest steel plant, and a leader in hydrogen-based green steel production,” Jindal said.

Jindal Steel & Power has so far invested nearly Rs 1 lakh crore in Odisha, he said. Over the past decade, it has invested Rs 900 crore in sustainable social initiatives focusing on healthcare, education, skill development, women empowerment, rural livelihood, sports, art and culture, Jindal added.