Bhubaneswar: In a significant boost to Odisha’s industrial landscape, JSW Steel and POSCO are set to collaborate on establishing a major integrated steel plant in Keonjhar district.
The project, aiming for an annual capacity of 6 million metric tons, was announced by Industries Minister Sampad Chandra Swain during his recent visit to Angul.
At the ‘Utkarsh Odisha’ – Make in Odisha Conclave, JSW Steel signed a Memorandum of Understanding (MoU) to develop the steel plant, which has been subsequently approved by the High-Level Clearance Authority (HLCA) chaired by Chief Minister Mohan Charan Majhi. The initiative underscores the state government’s commitment to fast-tracking industrial development through streamlined procedures.
Minister Swain highlighted that land acquisition and other preparatory work are progressing rapidly under the state government’s supervision. The joint venture between JSW Steel and POSCO reflects their focus on prioritising Odisha as a key destination for investment in the steel sector.
“This project marks a major milestone for Odisha’s industrial growth and employment generation and the state government is working tirelessly to ensure that the plant’s construction is expedited through fast-tracked approvals and support,” said Minister Swain while speaking to reporters.
Besides the steel plant, Odisha is also set to establish an Foreign Direct Investment (FDI) park aimed at attracting foreign investments, with work underway at a fast pace.
The cabinet recently approved the setting up of two semiconductor manufacturing units, further cementing Odisha’s position as an emerging industrial hub in India.
