JSW Steel today expressed interest in setting up a port-based steel plant in the coastal Kendrapara district.
“We have plans to set up a steel plant close to a port in Odisha coast. Though we have identified two to three sites, Kendrapara is most suitable place because of its proximity to Paradip Port and a port at Dhamara,” JSW Chairman and Managing director Sajjan Jindal told reporters after meeting Chief Minister Naveen Patnaik here.
Stating that the company proposed to invest Rs 15,000 crore in the steel project, Jindal said a port nearby would help the company to get raw materials and export finished steel products.
Asked about the capacity of steel mill, he said, “The project is still at an exploratory stage. So, it will be difficult to say at the moment whether its capacity will be three million tonne per annum or 10 mtpa.
“We believe that Odisha is the best state for steel investments with its raw material availability, skilled manpower and also strong support from the government.”
Replying to a question, the JSW CMD said two Jindal Group firms, Jindal Stainless Ltd and Jindal Steel & Power Ltd— JSPL, at Kalinga Nagar and Angul were making good progress.
Accompanied with Kendrapara MP Bayjant Panda, Jindal made an aerial survey of the area for the plant.
JSW’s proposal comes at a time when the world’s largest steel-maker ArcelorMittal has announced withdrawal from the state and South Korean steel-maker Posco is struggling for eight years to set up a mega steel plant at an investment of Rs 52,000 crore.