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Jindal Steel and Power To Invest ₹70,000 Crore For Industrial Growth In Odisha

Written by: Team Angel OneUpdated on: Jan 29, 2025, 2:41 PM IST
JSPL will invest ₹70,000 crore in Odisha to expand steel production and boost social initiatives. The Angul plant will reach 25.2 MTPA by 2030
Jindal Steel and Power To Invest ₹70,000 Crore For Industrial Growth In Odisha
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Jindal Steel & Power Ltd (JSPL) has announced an additional investment of ₹70,000 crore in Odisha to boost industrial growth and improve the quality of life in the state. The announcement was made by Chairman Naveen Jindal at the ‘Utkarsh Odisha – Make In Odisha Conclave.’ The company is also considering setting up a steel plant in Keonjhar district to support the state’s industrial vision.

Expansion of Steel Production and Green Steel Initiative

JSPL operates India’s first coal gasification-based steel plant in Angul, focusing on reducing reliance on imported coking coal. The plant, currently at 6 million tonnes per annum (MTPA), is set to double to 12 MTPA this year and reach 25.2 MTPA by 2030. This expansion will make it the world’s largest and greenest steel plant, with a focus on hydrogen-based green steel production.

Investment and Social Contributions in Odisha

JSPL has already invested nearly ₹1 trillion in Odisha, playing a key role in its industrial development. Additionally, the company has spent ₹900 crore on social initiatives, including healthcare, education, skill development, women empowerment, and rural livelihood programs. These efforts reflect its commitment to sustainable growth and community welfare.

Conclusion

JSPL’s additional ₹70,000 crore investment will strengthen Odisha’s industrial sector and support social development. With ongoing steel expansion and sustainability initiatives, the company aims to contribute to both economic growth and community well-being in the state.

JSPL Share Performance

As of January 29, 2025, at 2:05 PM, shares of JSPL are trading at ₹848.30 per share, reflecting a surge of 0.86% from the previous day’s closing price. Over the past month, the stock has registered a decline of 7.60% and over the last year it has surged by 16.04%. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 29, 2025, 2:41 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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