JSW to invest additional Rs. 1 trillion in Odisha

Bhubaneswar : The JSW Group has committed to invest another Rs One lakh crore in Odisha in various sectors including a mega greenfield steel plant in Paradip, its Chairman Sajjan Jindal said on Thursday.
Jindal added in his speech to the Make in Odisha Conclave, “Before Covid, about four years ago, we had pledged to invest Rs 60,000 crore in Odisha, of which Rs 30,000 crore has already been invested and projects worth another Rs 30,000 crore are under way. We pledge to invest an additional Rs 1 lakh crore in the state’s various sectors today.
The funds will be used by JSW to create a massive green-field steel facility in Paradip as well as a silicon plant that will be utilised to produce solar panels, renewable energy, and other things.

Meanwhile, the Adani group has announced that its planned capital investment in Odisha will exceed Rs.60,000 in the next 10 years. “The Group has already invested Rs 7,600 crore in Odisha and the planned capital investment will exceed Rs. 60,000 crores over the next ten years” said Karan Adani, Chief Executive Officer of Adani Ports and SEZ Ltd. (APSEZ) at the Conclave.

“Our investments in the state of Odisha continue to accelerate – and, over the last five years, the Adani Group has already put in Rs 7,600 crore as we have gone about developing LNG terminals, the Dhamra port and our mining activities.”
The number of direct jobs created has already touched 4,500 while the planned investment will create tens of thousands of direct and indirect jobs and help reshape the economics of the state, he said.

Mr.Karan said that Adani Group’s primary interests in Odisha are in ports and logistics, industrial clusters and special economic zones, power generation, transmission, and distribution, integrated natural resource management, renewable energy, data centres, defence, cement, and agri-businesses. “We are leaders in all our core businesses – and Odisha is one of the most important states for the Adani Group,” said the young industrialist.
He also informed that Dhamra port is the first port in India to receive environmental clearance for more than 300 million tons. It will have 35 berths with a massive 315 million tons in port capacity.

He announced that the LNG terminal of 5 million tons capacity in Dhamra will start commissioning in December this year. This entailed an investment of Rs 5,200 crore. “We have already planned to double this capacity within the next five years,” he added.