India: Odisha approves five mega steel expansion plans worth INR 92,713 crore

The Odisha government today approved five mega expansion projects of steel producers valued at INR 92713 crore. Together, these projects post expansion will generate additional employment opportunities for 31979 people.

The investments were cleared by the High Level Clearance Authority (HLCA) chaired by Chief Minister Naveen Patnaik.

Jindal Steel & Power Ltd (JSPL) got the go-ahead to ramp up capacity of its integrated steel plant at Angul from six mn t pa to 18.5 mnt pa, establishment of 36 mnt pa slurry pipeline 12.5 mnt pa cement plant with an investment of INR 76,018 crore. The new projects envisage fresh employment for 24350 persons.

The HLCA also okayed the plan of Jindal Stainless Ltd (JSL) to raise capacity of the steel mill at Kalinganagar from 1.1 mnt pa to 3.2 mnt pa and treble cold rolling mill capacity from 0.8 mnt pa to 2.4 mnt pa. The expansion will cost the company INR 6,840 crore with potential employment for 2236 persons.

Essar Minmet Ltd's proposal to set up a 14 mn t beneficiation plant and a pellet plant as well as a slurry pipeline of matching capacity at Keonjhar and Paradip got the nod. The combined cost of the projects is pegged at INR 6,650 crore, providing employment opportunities for 1468 people.

Likewise, ArcelorMittal Nippon Steel India Ltd has sought to expand capacity of beneficiation plant at Keonjhar from 10.76 mtpa to 16.76 mnt pa and double the rated capacity of its pellet plant located at Paradip from six to 12 mnt pa, pledging an investment of INR 2,000 crore. After expansion, new employment opportunities will be created for 655 persons.

Mid-tier steel maker Shyam Metallics & Energy Ltd has proposed to raise capacity of its steel plant at Pandloi (Sambalpur) from 0.77 to 2.37 mntpa and a rolling mill at an investment of INR 1205 crore with potential employment opportunities for 3270 persons.

These investment proposals encompass the entire value chain in the metal sector starting from beneficiation to manufacturing of pellets, iron, steel, stainless steel, rolled products as well as cement utilizing waste products like slag and fly ash from other industries.