JSW Steel bags fourth mines in Odisha

Bhubaneswar: Sajjan Jindal-led JSW Steel has bagged fourth iron ore mine in the ongoing auctions in Odisha, said an official.

It bagged Jajang iron ore block that holds estimated reserves of 39 million tonnes on Thursday.

With the four mines, an iron ore reserves linkage of more than 1,100 million tonnes has been secured for JSW Steel which plans to set up a 12 million tonnes per annum (MTPA) steel plant at Paradip in Odisha with an investment of around Rs 53,000 crore in Odisha.

JSW Steel won Odisha’s largest iron ore block, the Nuagaon mine, with estimated reserves of around 790 million tonnes (MT) followed by Narayanposhi iron block with 190 MT reserves and Ganua iron ore mine with 118 MT reserves.