In a landmark development for Odisha’s steel sector, Chief Minister Mohan Charan Majhi revealed that a Memorandum of Understanding will be signed at the Utkarsh Odisha Conclave on January 28-29, 2025. The MoU will set in motion the establishment of a new steel plant in Keonjhar district, one of the state’s key industrial hubs. The project will be a joint venture between JSW Group and POSCO, two giants in the global steel industry. Together, they will develop an integrated steel facility capable of producing 5 million metric tons per annum of steel, reinforcing Odisha’s position as a major player in India’s manufacturing and industrial landscape.
Strategic Location and Land Acquisition: The steel plant will be strategically located in Keonjhar district, which is known for its rich mineral resources. Two potential sites have already been earmarked for the project. The first site covers approximately 2,500 acres near Odisha Tea Plantation Ltd in the Taramakant area, under the Banspal block. The second site, measuring around 1,956 acres, is situated at Patna, a land that was initially proposed for use by steel giant ArcelorMittal. This land acquisition is expected to significantly streamline the project’s implementation.
Collaboration Between JSW and POSCO: JSW Group, a prominent player in the Indian steel industry, is joining hands with POSCO, a leading South Korean steelmaker with global reach. This collaboration brings together cutting-edge technology, expertise in large-scale steel production, and a shared vision for sustainable and green manufacturing practices. The plant will not only enhance steel production capacity but also create thousands of direct and indirect jobs in the region, fostering economic growth.
Environmental Sustainability Focus: A noteworthy aspect of the proposed steel plant is its focus on environmental sustainability. The greenfield facility is expected to be equipped with the latest eco-friendly technologies to minimize the carbon footprint, aligning with global trends towards sustainable industrial practices. This initiative is in line with the broader objective of the Make in Odisha Conclave, which aims to promote industrial growth while ensuring environmental responsibility.
