POSCO land goes to JSW Steel

Business State

Bhubaneswar, Sept 27

Land measuring 2900 acres at Paradip which was occupied by the State government for the South Korean steel behemoth, POSCO has been allotted to JSW Steel for its proposed green field steel plant.

Speaking to reporters, Industry Minister Anant Das today said the JSW has given a proposal to the State government for setting up of a 10 mtpa steel plant with an investment of around 50,000 crore. JSW Steel has been asked to make required payment for the allotted land soon, he added.

Meanwhile, JSW Steel has already applied for obtaining environment and forest clearances for the proposed steel plant which is likely to generate nearly 30,000 employment in the State, sources in the company said.

JSW Steel Ltd, the flagship company of over $13 billion JSW Group, is one of India’s leading integrated steel manufacturers with a capacity of 18 MTPA. It is one of the fastest growing companies in India with a footprint in over 140 countries.

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