New Delhi: Jindal (India) Ltd on Monday said the company has received a letter of approval from the Odisha government for its proposed greenfield project in the state to be set up with an investment of Rs 3,600 crore.
The company plans to invest Rs 15,000 crore in three phases in Odisha by 2030, it said in a statement.
"Jindal (India) Limited gets High-Level Clearance Authority (HLCA) approval for Rs 3,600 crore steel plant in Odisha," the statement said.
The company's facility will focus on manufacturing special coated steel products.
The plant will feature coating facilities such as a Cold Rolling Mill (CRM) with a Continuous Galvanizing Line (CGL) and a Colour Coating Line (CCL) for steel sheets with multiple high potential downstream products having total annual capacity of 9.6 lakh MT.
This phase will be commissioned by 2027. In parallel, its wholly-owned subsidiary Jindal India Steel Tech Limited (JISTL) will enhance the total capacity of the Odisha plant to 30 lakh MT per annum in the flat product division by 2030.
A company spokesperson said, "Along with enhancing the company's domestic manufacturing capabilities, the green-field manufacturing plant will reduce reliance on imports and generate employment opportunities in the state. The modern facility will also strengthen Jindal (India) Ltd's footprint in Odisha's growing industrial sector."
Jindal (India) Limited will also establish a steel pipe manufacturing facility that will have an estimated annual production capacity of 2 lakh MT per annum.
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