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JSW Utkal Steel to start work on 1 Paradip steel plant in FY19 - Report

Steel News - Published on Tue, 16 Jan 2018

Image Source: steelguru.com
Business Standard reported that JSW Steel is looking at the possibility of starting project activity in the next fiscal on its 12 million tonnes mega steel plant proposed near Paradip in Odisha. The report quoted an Odisha government official as saying that "JSW Steel can start work on the ground after they get land from the Odisha government. The government is processing the land requirement and we believe the identified land can be transferred to the company soon.”

The steelmaker has committed an investment of INR 550 billion on the integrated steel mill, 900 Mw captive power plant, 32 million tonnes pellet unit, a captive port and a slurry pipeline to transport iron ore concentrate from Joda to the project site proposed near Paradip.

The 12 million tonnes steel unit by JSW Steel is to come upon 2700 acres land. It is the same land parcel alienated for the South Korean multi-national Posco that proposed a 12 million tonnes mega steel plant at an investment of USD 12 billion. Out of 2700 acres land acquired by Odisha Industrial Infrastructure Development Corporation (Idco), 1700 acres was transferred to Posco. But, since Posco offered to surrender the land, it was taken back by the government. JSW Steel has formed a wholly owned subsidiary JSW Utkal Steel Ltd to fast-track the implementation of its 12 million tonne crude steel plant and other inter-linked projects in Odisha.

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Posted By : Nanda Koijam on Tue, 16 Jan 2018
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