Odisha approves 5 major steel-making projects worth Rs 1.46 lakh crore

In line with Odisha’s CM Naveen Patnaik’s ‘Vision 2030’ of making Odisha ‘Steel Hub of India’, the state’s 26th High-Level Clearance Authority (HLCA) headed by the CM issued in-principle approval to five major industrial projects.

Created On: Jul 7, 2021 17:24 ISTModified On: Jul 7, 2021 17:24 IST

In line with Odisha’s CM Naveen Patnaik’s ‘Vision 2030’ of making Odisha ‘Steel Hub of India’, the state’s 26th High-Level Clearance Authority (HLCA) headed by the CM on July 6, 2021, issued in-principle approval to five major industrial projects worth Rs 1,46,172 crores in metal and metal downstream sectors, stated a press release by the state government.

In the FY2020-21, Odisha was able to raise investments worth Rs 2.96 lakh crores even amid the COVID-19 pandemic, read the statement.

Odisha has seen a jump in its steel-making capacity from 2 MT in 2000 to 20 MT in 2020. Currently, Odisha’s steel-making capacity stands at 30 MT.

The addition of 27.5 MT steel-making capacity will double the capacity of the State over the next few years. The five major industrial projects will lead to the creation of 26,959 employment opportunities in Odisha.

HLCA gave approval to five major steel-making projects

(i) Bhushan Power and Steel Limited

•HLCA gave in-principle approval of Rs 55,000 crore to expand Bhushan Power and Steel Limited’s integrated steel plant from 5 MMTPA and 15 MMTPA.

•The proposed plant to set up in Rengali in September 2021 and offer employment opportunities for more than 10,000 persons.

(ii) Tata Steel Limited

•HLCA gave in-principle approval of Rs 47,599 crore to expand Tata Steel Limited’s crude steel production from 3 MTPA to 8 MTPA, Hot rolled coil from 3 MTPA to 7 MTPA, 2 MTPA long products, and 2.2 MTPA cold-rolled products.

•The proposed plant to be set up in Kalinga Nagar, Jaipur that will generate employment opportunities for more than 4,625 persons.

(iii) Jindal Steel and Power Limited

•HLCA gave in-principle approval of Rs 24,652 crore to expand Jindal Steel and Power Limited’s 6 MTPA existing Integrated Steel Plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA.

•The proposed plant to be set up in Angul and offer employment opportunities for more than 1,000 persons.

•This expansion will further boost Jindal Steel’s total investment to Rs 1,00,670 crore thus making it the largest single location steel plant capacity in the world.

(iv) Rungta Mines Limited (Jharbandh)

•HLCA gave in-principle approval of Rs 11,001 crore to expand Rungta Mines Limited’s integrated steel plant from the proposed capacity from 2.85 MMTPA to 7.55 MMTPA.

•The proposed plant to be set up in Jharbandh, Dhenkanal and offer employment to more than 6,200 persons.

(v) Rungta Mines Limited (Karakhendra)

•HLCA gave in-principle approval of Rs 7,920 crore to expand another of Rungta Mines Limited’s steel plant capacity from 0.53 MMTPA to 3 MMTPA.

•The proposed plant to be set in Karakhendra, Keonjhar and offer employment to more than 5,134 persons.

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