JSPL to increase its investment to Rs 1lakh crore in Odisha

JSPL to increase its investment to Rs 1lakh crore in Odisha

Bhubaneswar: Encouraged by the support received from people of Odisha and the State Government, Jindal Steel & Power Ltd (JSPL) chairman Naveen Jindal on Monday said the company will increase its investment in Odisha from Rs. 45000 crore to Rs. 1 lakh crore by 2030.

Jindal announced it at the plenary session of Make in Odisha Conclave 2018.

With the increased investment, the capacity of Angul steel plant will increase from 6 MTPA to 20 MTPA and employment generation will be enhanced from 50000 to 100000.

Sharing JSPL’s story in Odisha, Jindal said, “JSPL’s story in Odisha started 30 years ago. My father OP Jindal, who shared his vision with legendary Biju Patnaik ji had planned for setting up a 1 MTPA Steel Plant. Subsequently, in 2003, we started setting up a 6 MTPA Steel Plant in Odisha based on Swadeshi or indigenous raw materials. And for the first time in the world, we set up a steel plant based on coal gasification.

But after de-allocation of the same, it was very challenging for us. But with the encouragement from the Government of Odisha, JSPL started to put up India’s largest and most modern blast furnace largest sinter plant, coke oven and steel making shop.”

“When we had plenty of challenges, we also had plenty of support. Support from the people of Odisha, Government of Odisha and CM Naveen Patnaik,” said Jindal.

He also expressed his gratitude to Lord Jagannath for His blessings.

Along with the 6 MTPA steel plant at Angul, which is at present Odisha’s largest steel plant, JSPL is also operating 9 MTPA pellet plant at Barbil, which has been exporting the highest amount of pellets from the country.

Jindal also informed that encouraged by the Chief Minister and Government of Odisha, JSPL is setting up an industrial park at Angul.

“People coming to our industrial park will not face any of these challenges, we faced like land, water or electricity or anything. We are going to make all these very very smooth,” he assured.

Reiterating JSPL’s commitment for social responsibility, Jindal said, “Along with making steel, we also take a passionate interest in our social responsibility like building schools, hospitals, community health care and drinking water facility”. Our social development vision is every day becoming a reality and continuing to enhance the quality of life of the people, he later added.

He urged budding investors to take advantage of the conducive business environment and invest in the State.