The Business Bytes
TBB BUREAU
NEW DELHI, JANUARY 28, 2021
In keeping with its commitment to the Prime Minister’s Aatmanirbhar Bharat Mission, and inspired by Chief Minister Naveen Patnaik’s vision to make Odisha a 100-MT steel manufacturing hub and the late visionary Biju Babu’s dream to make the state a leader in steel, Jindal Steel and Power Ltd (JSPL) today unveiled its Vision 2030.
As per the Vision Statement, JSPL would make its Angul Steel Plant the world’s largest and greenest single-location steel plant, thus putting Odisha on the global steel map.
JSPL’s Vision 2030 focuses on enhancing the capacity of its 6 MTPA Angul integrated steel plant. The Angul steel plant will expand its total capacity to 25.2 MTPA by 2030 through clean energy resources with an additional investment of Rs 1.20 lakh crore.
JSPL Angul will see an expansion of substantial green steel manufacturing capacity through Hydrogen-based DRI and EAF route. The complex will also house a 12.5 MTPA cement plant to utilize the blast furnace slag and fly ash to produce environment-friendly, green cement.
JSPL’s Vision 2030 for 25.2 MTPA steel capacity at Angul also entails substantial investments to develop the iron ore and coal mineral industry and build a world-class logistics infrastructure.
With focus on the robust supply chain mechanism and raw material transportation, JSPL plans to invest in a state-of-the-art Port and a dedicated Railway Line to connect the Port, the Angul facility, the Barbil Pellet Plant and its Raigarh plant in Chhattisgarh.
JSPL initiatives, thus, are expected to create 60,000 plus direct job opportunities and around 3,00,000 indirect employment opportunities in Odisha.
The company’s operations in Odisha are likely to generate economic activity to the tune of nearly Rs 1.5 lakh crore annually, with the state exchequer getting richer by potential revenues of around Rs 7,500 crore per annum.
The company remains steadfastly committed to improving the quality of life of the local communities of Odisha through its various CSR programmes focussed on health care, education, skill development, sustainable livelihood, sports, art & culture.
Odisha Minister for Steel & Mines Prafulla Kumar Mallik and Minister of State for Industry Dibya Shankar Mishra appreciated JSPL’s proposal for setting up the largest steel plant of the world at Angul.
Chief Secretary Suresh Chandra Mahapatra assured all support from the State Government to achieve the goal of setting up 25.2 MTPA steel plant and for the required infrastructure.
Principal Secretary (Steel & Mines) Surendra Kumar said that raw material for steel industries would be made available through auction of more number of mines soon.
“We draw inspiration from Biju Babu’s vision for Odisha. The Hon’ble Chief Minister’s leadership and robust roadmap make us all the more committed to the state. We draw satisfaction from the fact that JSPL today is the largest private investor in Odisha. The State will remain our preferred destination for investments and expansions. Odisha will be the powerhouse leading Eastern India’s onward march, and JSPL will play its part in the same. I am sure many others will also come forward to invest in the state and work with its outstanding human resources,” said JSPL Chairman Naveen Jindal. “JSPL is known for its cutting-edge, environment-friendly technological innovations. We have undertaken some of the most state-of-the-art industrial innovations at our Angul unit in Odisha. Our Vision 2030 is part of the same journey, with the objective to put Odisha on the global map, besides making the state Eastern India’s jewel,” said JSPL MD V R Sharma.
