JSW Steel, a leading steel company, has announced plans to invest 9,000 INR-crore in the establishment of an 8 million tonne per annum pellet plant and a slurry pipeline in Jagatsinghpur district, near Paradeep in Odisha. This investment is part of the company’s larger proposal to construct a 13.2 million tonne per annum integrated steel plant in the state.
The initial funding for the pellet plant will be sourced from the 8,800 INR-crore capital expenditure planned for this fiscal year, and the completion of the pellet plant is expected within three years.
In the interim, JSW Steel plans to utilize the produced pellets in its Dolvi plant until the greenfield steel plant becomes fully operational. The necessary environmental clearance for the steel plant project in Odisha has already been obtained by JSW Steel, but the acquisition of land and boundary demarcation is pending.
The integrated steel plant project, along with its associated facilities, is estimated to require a total capital expenditure of approximately 65,000 INR-crore.
Also Read : Top 10 Steel companies in India (biltrax.com)
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