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