JSW Steel Ltd.’s shares went up 1.23 per cent after the company reported its expansion plans. The Chief Minister of Odisha, Naveen Patnaik, laid the foundation for JSW Steel’s Mega Integrated Green Steel Manufacturing Complex in Paradip, Odisha. This project, proposed to be executed in multiple phases, entails an investment of approximately ₹65,000 crore by JSW Steel & JSW Group entities and is expected to generate around 30,000 direct and indirect jobs.
The integrated manufacturing complex will include an integrated steel manufacturing unit with a capacity of 13.2 MTPA, a captive power plant, captive jetties, a cement manufacturing unit, and a modern township. The company informed, it is envisioned as a world-class green technology steel manufacturing facility, adopting circular economy practices for cleanliness, greenery, and technology.
The project site, located at Dhinkia Nuagaon and Gadakujanga under Erasama Tehsil, Jagatsinghpur district, will span 2,958 acres. The Industrial Development Corporation of Odisha (IDCO) allocated 30 per cent of the total project land for the preservation of forests and water bodies.
The shares were up by 1.23 per cent to ₹822.15 at 2.30 p.m. on the BSE.