Bhubaneswar: The JSW Steel Limited has got State Government’s nod to set up its 10 million tonne steel project in the state at Paradip at a cost of Rs 50,000 crore. The steel project aims to create around 30,000 jobs when it will be fully operational. The project is expected to come up on land acquired for the Posco project at Jagatsinghpur.
The JSW’s steel project proposal was one of the 10 projects worth Rs 1.10 lakh crore approved at a meeting of the statutory high-level clearance authority, chaired by Chief Minister Naveen Patnaik, here on Friday.
JSW Steel has asked for 4,500 acres of land for their steel plant. But, it has not been decided if the project would come up at the Posco site. The steel plant is expected to be commissioned in four years”, said Chief Secretary Aditya Prasad Padhi.
The state government had acquired more than 2,700 acres near Paradip for Posco’s eight-million-tonne-per-annum (MTPA) steel plant. After the South Korean steel major announced withdrawal of its project, the government had cancelled the land allotment to Posco and kept it in its land bank.
Sources said the JSW Steel Limited had also proposed to set up a captive port near Paradip.