BHUBANESWAR: In a major boost to industrialisation in the state, the Odisha government has secured investment commitments from JSW Steel and POSCO to set up two large steel plants in the state’s Dhenkanal and Keonjhar districts.
The projects, with a combined proposed capacity of 11 million tonnes per annum (MTPA), are expected to significantly strengthen Odisha’s position as a leading steel-producing hub in the country.
According to industries department additional chief secretary Hemanta Sharma, a 5 MTPA steel plant will be established in Keonjhar district, while a 6 MTPA facility will come up in Dhenkanal district.
The state has already identified around 1,000 acres of land in Dhenkanal for the project, with provisions to arrange additional land as required during the expansion phase. Sharma said the government will extend full support to facilitate land acquisition and ensure the timely rollout of the projects.
He added that the agreements were finalised following high-level engagements during the recent visit of the President of South Korea to India, signalling renewed international investor confidence in Odisha’s industrial ecosystem.
“The state now has two major steel projects in hand. Efforts will be made to ensure there is no delay, and all necessary approvals and clearances will be provided in a time-bound manner,” Sharma said.
The twin investments are expected to generate substantial employment opportunities and catalyse ancillary industries, further accelerating Odisha’s industrial growth trajectory.
Commenting on the collaboration, Sajjan Jindal, chairman of JSW Group, said, “This MoU with POSCO marks a significant step forward in our journey to contribute to the Indian steel industry.
As one of the world’s fastest-growing economies, India presents tremendous opportunities for sustainable growth, and our partnership with POSCO strengthens JSW’s commitment to drive that transformation.
This JV also entails collaboration for renewable energy for a state-of-the-art integrated steel plant and for setting up an EV ecosystem in India. Together, we aim to set a benchmark in technology and sustainability that can shape the future of manufacturing in India and beyond.”
Mr. Chang In-hwa, chairman of POSCO said, “We are delighted to strengthen our ties with JSW Group. This collaboration will contribute significantly to the economic development of Korea and India and drive our joint efforts towards a more eco-friendly and sustainable future.”