BHUBANESWAR: JSW Group has signed an MoU with the Odisha government to set up a 5-million tonnes per annum steel plant in Keonjhar district. “The JSW (Group) will set up a 5-MTPA steel plant in Keonjhar district at an investment of around Rs 35,000 crore,” Industries Department Additional Chief Secretary Hemant Sharma told reporters.
Keonjhar district is located in the iron ore reserves belt, and the minerals were being exported to other areas from the district. As a result, the locals did not get any benefit from the mineral resources, Jindal said.
Asked whether South Korean steel major POSCO is also a part of the proposed Keonjhar project, Jindal said, “It has not yet been decided whether we will go for a collaboration with some other firm. It will be decided in the future course.”
Jindal said POSCO has evinced interest in setting up a steel plant in Odisha.
Majhi had earlier said that the JSW Group and POSCO will jointly set up a green field steel facility in his home district of Keonjhar. Aditya Birla Group Chairperson Kumar Mangalam Birla, who also attended the Odisha business summit, said: “We are long-term investor in Odisha. We have already invested Rs 50,000 crore in the state and another Rs 50,000 will be invested in the coming years.”
