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The JSW Group declared that it will invest ₹65,000 crore in setting up an integrated steel mill, power plant, port facility, and cement plant in Jagatsinghpur, Odisha. With a potential to produce 13.2 million tonnes of steel annually, the steel plant is predicted to create 30,000 employment.
The port and jetty project will handle 52 million tonnes of cargo per annum. The cement plant will be able to produce 10 million tonnes while an iron ore slurry transportation system will have the capacity to transport 30 million tonnes per annum.
The Industrial Development Corporation of Odisha (IDCO) has handed over 2,958 acres of land to JSW for setting up the integrated manufacturing facility with 30% of the total project land to be dedicated for preservation of forests and water bodies,” said JSW Steel.
The land for the project was earlier earmarked for Korean Steel Major Posco in 2005, which had plans to set up a 12 MTPA steel plant with an investment of ₹52,000 crore. However, the project failed to take off following stiff opposition from the local people forcing Posco to withdraw in 2017. The proposal ran into rough weather last year when the National Green Tribubal suspended its licence to set up steel plant.
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