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JSW Steel
has started work on its 13.2 million tonnes per annum (MTPA) greenfield integrated steel plant at Paradeep in Odisha, marking one of the company’s biggest investment projects so far.
The plant will be developed in phases at an estimated cost of around ₹65,000 crore and will come up on nearly 2,950 acres along Odisha’s coastline. The location is expected to provide strong port connectivity and easier access to raw materials and logistics infrastructure for both domestic and export markets, the company said in an exchange filing.
The project commencement ceremony was attended by Odisha Chief Minister Mohan Charan Majhi, senior state government officials and Sajjan Jindal, Chairman and Managing Director of JSW Steel.
In the filing, Jindal said the Paradeep steel plant marked a major milestone in the company’s expansion plans and reflected confidence in India’s long-term manufacturing growth story.
The company said the project aligns with the Centre’s Mission Purvodaya initiative aimed at boosting industrial development in eastern India. Once operational, the plant is expected to strengthen Odisha’s position as a major steel manufacturing hub and add significantly to India’s steelmaking capacity.
JSW Steel President Anil Singh said the company would work closely with the Odisha government and local stakeholders to build a world-class steel manufacturing facility.
Shares of JSW Steel closed 1.27% higher at ₹1,310 on the NSE on Wednesday.
The plant will be developed in phases at an estimated cost of around ₹65,000 crore and will come up on nearly 2,950 acres along Odisha’s coastline. The location is expected to provide strong port connectivity and easier access to raw materials and logistics infrastructure for both domestic and export markets, the company said in an exchange filing.
The project commencement ceremony was attended by Odisha Chief Minister Mohan Charan Majhi, senior state government officials and Sajjan Jindal, Chairman and Managing Director of JSW Steel.
In the filing, Jindal said the Paradeep steel plant marked a major milestone in the company’s expansion plans and reflected confidence in India’s long-term manufacturing growth story.
The company said the project aligns with the Centre’s Mission Purvodaya initiative aimed at boosting industrial development in eastern India. Once operational, the plant is expected to strengthen Odisha’s position as a major steel manufacturing hub and add significantly to India’s steelmaking capacity.
JSW Steel President Anil Singh said the company would work closely with the Odisha government and local stakeholders to build a world-class steel manufacturing facility.
Shares of JSW Steel closed 1.27% higher at ₹1,310 on the NSE on Wednesday.
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