The Business Bytes
THEBUSINESSBYTES BUREAU
KEONJHAR, MARCH 2, 2025
In a move set to transform the economic landscape of the region, Odisha Chief Minister Mohan Charan Majhi has announced the establishment of a mega steel plant in Keonjhar with an investment ranging from Rs 30,000 crore to Rs 40,000 crore. The ambitious project was announced at the annual-day function of Chandra Sekhar College in Champua, marking a significant step in Odisha’s industrial growth.
The plant, a joint venture between two global steel giants, India’s JSW Steel and South Korea’s POSCO, is expected to not only bolster the state’s economy but also create thousands of job opportunities. It is poised to be a key driver of infrastructure development across the region, with its location in Patana serving as the central hub.
Addressing a large audience, CM Majhi emphasized his long-held vision for the district. “I had always dreamed of setting up a mega steel plant in Keonjhar, and today, that dream is becoming a reality. The Almighty has been kind, and as the head of the government, I am proud to witness this milestone,” he said, reflecting on the project’s significance.
This mega steel venture is part of a larger industrial push in the district, with nearly Rs 1 lakh crore slated for investment across multiple locations, including Joda, Barbil, Sadar, Suakati, Anandpur, Harichandanpur, and Champua.
The Chief Minister highlighted that the state has already secured Rs 17 lakh crore in total investment through initiatives like the “Utkarsh Odisha: Make-in Odisha Conclave 2025,” with over 145 MoUs for projects worth Rs 13 lakh crore signed thus far.
The new steel plant is expected to serve as a cornerstone for further investments, with the potential to create nearly 9 lakh employment opportunities, fostering economic prosperity for the people of Keonjhar and surrounding areas.
In addition to the industrial announcement, CM Majhi also pledged Rs 4 crore in funding for the development of Chandra Sekhar College, underscoring the government’s commitment to advancing education alongside economic growth.
