Bhubaneswar: JSW Group and South Korean steel major POSCO will jointly set up a mega steel plant at Patna area of Keonjhar, Chief Minister Mohan Charan Majhi announced on Sunday.
An MoU has been signed and about Rs 30,000 crore to Rs 40,000 crore will be invested to set up the project, the Chief Minister said while addressing a public gathering at Champua.
“I had previously vowed to set up a mega steel plant in Keonjhar district. The Almighty was kind enough and made me the chief minister to realize the dream,” Shri Majhi said.
Not only Patna, steel industries will come up at different places of the district with a total investment of over Rs 1 lakh crore, the CM said.
Notably, on January 28 this year, during the ‘Utkarsh Odisha-Make in Odisha Conclave’, the Sajjan Jindal-led JSW Group had signed an MoU with the Odisha government to set up a 5-MTPA steel plant in Keonjhar district.
Prior to that, the JSW Group and South Korean steel major POSCO in October last year had signed an MoU at JSW Group’s corporate headquarters in Mumbai. The partnership will focus on setting up an integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA), the JSW had stated in a statement. However, the companies have not revealed the place where they will set up a steel plant.
Beyond steel, the partnership aims to drive cooperation in battery materials and renewable energy, the statement said.
During the speech, the Chief Minister announced Rs 4 crore for Chandra Sekhar College, Champua, to construct a three-storey building. Earlier, Higher Education Minister Suryabanshi Suraj had announced a grant of Rs 3.30 crore for development of the college, he said.