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Photo : The Hans India   

With Five Steel Giants’ Big Investments Odisha To Emerge As India’s Steel Capital

Odisha Chief Minister Naveen Patnaik is leaving no stone unturned to transform his state. And, the results appear to be showing.  It is reliably learnt that five steel giants have finalized mega investments in Odisha namely: Posco, ArcelorMittal, Tata Steel, Jindal Steel and JSW. While Posco has evinced an interest to invest once again, steel magnate Lakshmi Mittal’s ArcelorMittal has secured approval from the Patnaik government to set up a 24 MTPA greenfield integrated steel project at Kendrapara district. Similarly, Tata Steel will expand its Kalinga Nagar capacity from 3 MTPA to 8 MTPA; while Jindal Steel & Power will up its Anugul plant capacity from 6 MTPA to 25.2 MTPA. This will make JSPL’s Anugul plant the world’s largest single location steel plant. JSW, which acquired Bhushan Power & Steel plant located at Jharsuguda, will also ramp up capacity from 5 MTPA to 15 MTPA while the Rungta Mines’ Karakhendra plant capacity goes up from 0.53 MTPA to 3 MTPA.  If all goes as planned, Odisha will become the ‘Steel Capital’ of the country, driving national economic growth through steel production. The state had a mere 2 MTPA steel production capacity in 2000 compared to its steel production of 30 MTPA today and, plans to further increase it to 100 MTPA by 2030. Clearly, Odisha is setting the pace of development for India.