Bhubaneswar: The Jindal Steel and Power Ltd (JSPL) on Tuesday signed an agreement with the government in the country’s eastern state of Orissa to set up an industrial park, state industries secretary P. Ramachandru said.
The industrial park for downstream industries is planned over an area of 1,400 acres in Angul at an investment of Rs 500 crore ($99 million), Ramachandru told Reuters.
The park is expected to become operational from 2013-14.
JSPL is setting up a six million tonne per annum (MTPA) integrated steel plant in the same region.
The firm said in a separate statement that the first phase of the plant, with capacity of two MTPA is expected to be commissioned by June 2012.