Bhubaneswar: Jindal Steel and Power Ltd (JSPL) on Thursday unveiled a vision statement with ambitious plans to inject Rs 1.20 crore lakh to quadruple the capacity of its Angul plant in Odisha to 25.2 MTPA by 2030 and create more than 60,000 direct employment opportunities.
Vision 2030 is in line with his commitment to Prime Minister Narendra Modi’s Aatmanirbhar Bharat mission, and is inspired by Chief Minister Naveen Patnaik’s vision to make Odisha a 100 ton steelmaking center and the dream of the late visionary Biju Patnaik to make the state a leader in steel, company officials said.
In line with the vision statement, JSPL would make its Angul steel plant the largest and greenest steel plant in the world, placing Odisha on the global steel map.
JSPL’s Vision 2030 focuses on improving the capacity of its integrated 6 MTPA Angul steel plant. âIn our existing steel plant, we are producing steel using a unique technology in which swadeshi coal is used to produce syngas which is used for the production of DRI,â he said.
The Angul steel plant will increase its total capacity to 25.2 MTPA through clean energy resources with an additional investment of Rs 1.20 lakh crore by 2030, he said.
JSPL Angul will see a substantial expansion of its green steel fabrication capacity through the hydrogen-based DRI and EAF pathway. The complex will also house a 12.5 MTPA cement plant that will use slag and fly ash from the blast furnaces to produce environmentally friendly green cement.
Stating that the company is inspired by Biju Babu’s vision for Odisha, JSPL President Naveen Jindal said that the Chief Minister’s leadership and strong roadmap make us all the more committed to the State.
âJSPL is today the largest private investor in Odisha State. The state will remain our preferred destination for investments and expansions. A substantial portion of this investment will come from our internal increases / equity injections. Odisha will be the leading power plant in East India on the move, and JSPL will play its role there.
I’m sure many more will come forward as well to invest in the state and work with its exceptional human resources, âJindal said.
JSPL’s Vision 2030 for 25.2 MTPA steel production capacity at Angul also involves substantial investments to develop the iron ore and coal industry and build a world-class logistics infrastructure.
The company also plans to invest in a state-of-the-art port and a dedicated rail line to link the port, Angul facility, Barbil pellet plant and its Raigarh plant to Chhattisgarh. The company focuses on the robust mechanism of the supply chain and the transportation of raw materials.
JSPL initiatives are therefore expected to create over 60,000 direct employment opportunities and around 3,000,000 indirect employment opportunities in Odisha.
The operations of the company in Odisha are likely to generate an economic activity to the tune of nearly Rs 1.5 lakh crore per year, the Public Treasury being enriched with potential income of around Rs 7,500 crore per year.
The company remains firmly committed to improving the quality of life of local Odisha communities through its various CSR programs focused on healthcare, education, skills development, sustainable livelihoods, sports, l art and culture.
The company also called on government officials to abolish electricity taxes and give 15 percent tax breaks to brownfield projects while they are given to entirely new projects.
Odisha’s Minister of Steel and Mines, Prafulla Kumar Mallik, and Minister of State for Industry, Dibya Shankar Mishra, welcomed JSPL’s proposal to install the world’s largest steel plant in Angul.
Chief Secretary Suresh Chandra Mahapatra assured all the support of the state government to achieve the goal of setting up a 25.2 MTPA steel plant and for the required infrastructure.
âJSPL is known for its cutting edge, environmentally friendly technological innovations. We have undertaken some of the most advanced industrial innovations at our Angul unit in Odisha. Our Vision 2030 is part of the same journey, with the goal of putting Odisha on the global map, besides making the state the jewel of eastern India, âsaid JSPL MD VR Sharma.