The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, JANUARY 28, 2025
Private steel behemoth Jindal Steel and Power (JSP) has announced an additional investment of Rs 70,000 crore in Odisha, aiming to drive the state’s industrial growth and enhance community welfare. The announcement was made by JSP Chairman Naveen Jindal during the Utkarsh Odisha Conclave – 2025, here on Tuesday. The high-profile event, graced by Prime Minister Narendra Modi and Odisha Chief Minister Mohan Charan Majhi, showcased Odisha’s pivotal role in India’s industrial and economic landscape.
“Our vision is to make Odisha a global industrial leader while consistently improving the quality of life for its people. This additional Rs 70,000 crore investment will not only fuel industrial growth but also uplift thousands of families in Odisha, contributing to India’s journey toward self-reliance,” said Jindal. He further highlighted the company’s plans to explore the establishment of a steel plant in Keonjhar district, aligning with Chief Minister Majhi’s vision for the state.
The Utkarsh Odisha Conclave underscored the state’s strategic significance to India’s economic future, with leaders emphasizing the importance of public-private partnerships for sustainable development. Prime Minister Modi and Chief Minister Majhi applauded JSP’s commitment to Odisha, calling it a model for balanced industrial and social progress.
JSP has been at the forefront of sustainable industrial innovation, pioneering India’s first coal gasification plant for steel production at Angul. This facility reduces dependence on imported coking coal, reinforcing India’s energy security. The Angul Steel Plant, currently operating at 6 million tonnes per annum (MTPA), is on track to double its capacity to 12 MTPA this year, with plans to expand further to 25.2 MTPA by 2030. Once completed, it will be the largest and greenest steel plant globally, spearheading hydrogen-based green steel production.
Beyond its industrial achievements, JSP has made a substantial impact on community development in Odisha. Over the past decade, the company has invested Rs 900 crore in initiatives spanning healthcare, education, skill development, women’s empowerment, rural livelihoods, sports, and culture. These efforts have touched countless lives, creating a ripple effect of positive change across the state.
JSP’s latest commitment reinforces its dedication to Odisha’s progress, blending industrial excellence with social responsibility.
