JSW Utkal Steel gets environmental nod for 13.2 MTPA Odisha greenfield plant
The capital expenditure for JSW Utkal's integrated steel plant project is expected to be about ₹65,000 crores including associated facilities.
JSW Utkal Steel Ltd, a wholly owned subsidiary of JSW Steel Ltd., on Monday received environmental clearance for setting up a greenfield integrated steel plant of 13.2 million tonnes per annum (MTPA) crude steel in Odisha.
After successful public hearings, the Ministry of Environment & Forest and Climate Change accorded clearance to the project, touted as one of the largest in the manufacturing sector in the country. JSW Utkal Steel is part of the $13 billion JSW Group,
The capital expenditure for the integrated steel plant project is expected to be about ₹65,000 crores including associated facilities. The phase-wise work for the project will start once the land is handed over to the company by the government of Odisha, the company said.
The mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha, a statement from JSW Steel said.
JSW Steel has been incorporating sustainability into its core operations and decision-making practices, along with adopting the best available technologies to improve climate impact performance. It has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42% over the base year of 2005 by 2030.
JSW Steel is also investing in R&D for sustainable products and emission control, resource optimization, process efficiency and for ensuring multi-pronged digital focus to improve existing practices. It has issued the global steel industry’s first sustainability-linked US dollar bond in 2021, linked to its decarbonization target for 2030.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!