JSW-POSCO to set up greenfield steel plant in Odisha’s Keonjhar: CM Majhi
Odisha Chief Minister Mohan Charan Majhi announced a major development for Keonjhar with the upcoming greenfield steel plant by JSW Group and South Korean steel giant POSCO. This project is expected to boost industrial growth, create jobs, and support economic development in the region. The new facility aligns with Odisha’s vision to position itself as a major steel production hub in India.
Why Keonjhar is ideal for the JSW-POSCO steel plant
Keonjhar’s mineral wealth makes it an ideal location for a steel plant. CM Majhi explained that discussions with both JSW and POSCO took place during roadshows for the upcoming Make-in Odisha conclave in Delhi and Mumbai. There, Keonjhar’s advantages were highlighted, especially its abundant mineral resources. With the signing of a Memorandum of Understanding (MoU), the collaboration between the two companies is now official. The project promises to uplift Keonjhar’s economic landscape, creating jobs and enhancing local infrastructure.
Land allocated for the greenfield steel plant in Keonjhar
To facilitate the plant, the Odisha government identified two potential sites in Keonjhar. The first option is a 2,500-acre plot near Odisha Tea Plantation Ltd (OTPL) in Taramakant, located within the Banspal block. The second option is a 1,956-acre plot in Patna, initially earmarked for a project by Arcelor Mittal. Each site provides ample space for the greenfield facility, and careful consideration ensures the location meets the needs of the steel plant.
Economic and employment impact for Keonjhar
The new JSW-POSCO steel plant will likely transform Keonjhar’s economy. The plant will offer numerous jobs to local residents, which should significantly reduce unemployment in the area. Additionally, the partnership includes plans for renewable energy projects and battery materials for electric vehicles, which aligns with global sustainability trends. These forward-looking initiatives are expected to add even more value to the region.
This joint venture represents a significant step forward for Odisha’s industrial growth. With its focus on sustainable development, the JSW-POSCO project holds the promise of long-term benefits for Keonjhar and the wider region.
