JSW Group propose to invest Rs 65,000 crore in an integrated steel unit, a power plant, a cement factory and a port facility in Odisha, the company said on February 16. The steel facility will have a capacity of 13.2 million tonnes per annum.
The investment will be made in multiple phases subject to necessary approvals, the company said.
The integrated green steel project by JSW Steel is expected to drive economic growth in the region with employment potential of about 30,000 direct & indirect jobs, the company said in a statement.
The green steel complex would be set up in the Jagatsinghpur district of Odisha for which 2,958 acres of land has been handed over to the group by the Industrial Development Corporation of Odisha (IDCO).
The captive power plant will generate and supply power requirements of facility.
Earlier in the week, JSW Steel announced plans to set up a grain oriented electrical steel manufacturing facility through a joint venture with JFE Steel Corporation at an estimated investment of Rs 5,500 crore.
Recently, the group also signed a memorandum of understanding (MoU) with the Odisha government for an electric vehicle and a battery manufacturing unit in Cuttack and Paradip. The company will invest Rs 40,000 crore for the mega manufacturing plants.
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