JSW to invest Rs 1 lakh crore in Odisha, says Sajjan Jindal

Bhubaneswar: The JSW Group is committed to invest Rs 1 lakh crore in Odisha in various sectors, including for a mega greenfield steel plant project in Paradip, said its Chairman Sajjan Jindal here on Thursday.

Speaking at the ‘Make in Odisha’ conclave, Jindal said, “Before Covid, for nearly four years, we had committed to invest Rs 60,000 crore in Odisha, of which Rs 30,000 crore has already been invested and projects worth another Rs 30,000 crore is underway. Today we make a commitment to invest another Rs 1 lakh crore in the state in various sectors.”

The company will invest the money in building a mega greenfield steel plant project in Paradip, and a silicon metal plant which will be used for making solar panels, renewable energy and many other areas, he said. A

Jindal suggested the state government to improve the infrastructure as the only the government can invest in it.

Odisha is destined to become a trillion-dollar economy in the near future and will emerge as the gateway to east and southeast Asia, said Odisha Chief Minister Naveen Patnaik while addressing the conclave.

Patnaik said Odisha is a progressive state with clear focus on transformation in all sectors. Stable governance is the cornerstone of peace, prosperity and progress, he said.

“We have an unprecedented mandate from the electorate due to our continued performance over the last two decades. Our citizen-centric governance model has set global benchmarks. Initiatives like ‘Mo Sarkar’ and ‘5T’ charter give dignity and respect to our people,” said Patnaik.

He said the state government’s inclusive development agenda emphasises on education, health, skill development, agriculture, women’s empowerment, tribal development and so on.

The state has been able to reduce poverty by 50 per cent, while doubling the farmers’ income over the last two decades, he said.

The fiscal prudence and economic management has also been appreciated across the country. Odisha is one of the few states with adequate revenues to undertake large-scale infrastructure projects, he pointed out.

“Our investor-friendly initiatives and transformatory governance has put us on a journey of progress and prosperity. I invite each one of you to come join us on this journey. I assure you that our government will run the extra mile to make you comfortable in our state,” the CM told the industrialists.

State’s new industrial policy, which was launched on Thursday, provides support and incentives, which are beyond the best in the country, he said, adding that the state has launched new policies in the sectors of tourism, renewable energy, apparel and textile, food processing, exports and so on.

L.N. Mittal, Executive Chairman, Arcelor Mittal; Naveen Jindal, Chairman, JSPL; T.V. Narendran, CEO & MD, Tata Steel; and Anil Agarwal, Chairman, Vedanta Resources Limited, also addressed the conclave that will conclude on December 4.


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