Indian company JSW Steel has officially launched the implementation of a large-scale project to build a modern steel plant in Paradip, Odisha. The investment in the construction of the facility amounts to 65,000 crore rupees, which is approximately $6.8 billion.
This is reported by Finway
Strategic Location and Capacity of the New Plant
The new metallurgical complex will have an integrated structure and will be built in several phases. According to the plan, its annual production capacity will reach 13.2 million tons of steel. The plant will be located on the coast of Odisha, which will allow for the efficient use of port infrastructure, provide convenient access to raw materials, and optimize logistics processes to serve both domestic and international markets.
Significance of the Project for the Region
This project will be one of the largest industrial investments in Odisha and also involves the construction of additional infrastructure necessary for the full operation of the facility.
“In the early 2000s, South Korean steel giant POSCO proposed to build a steel plant at the same location. However, the project could not be realized at that time due to local residents’ opposition.”
According to local authorities, the launch of steel production at the new plant is scheduled for 2028.