In a bid to fast-track its 12 million tonne crude steel plant in Odisha JSW Steel has formed a wholly owned subsidiary viz. JSW Utkal Steel Ltd.
JSW Steel, led by Sajjan Jindal, has earmarked a capital expenditure of Rs 55,000 crore for numerous projects. These include an integrated steel mill, 900 MW captive power plant, a 32 million tonne pellet unit, a captive port and a slurry pipeline to transport iron ore concentrates from Joda to the proposed project near Paradip.
Meanwhile, JSW Steel has approached the state government to transfer all clearances and approvals to JSW Steel Ltd. The government is currently examining the submitted papers.
JSW Steel originally proposed a 10 million tonne shore-based steel plant and sought for 4,500 acres of land for the project. Later the company revised its plan, seeking a 12 million tonne steel project instead.
However, the state government is set to allocate the same land initially acquired by Posco for their Integrated Steel Plant.
