JSW Steel to Fast-Track Paradip Mega Project Following Legal Setback
Bhubaneswar: In a significant development for Odisha’s industrial landscape, JSW Steel, led by renowned industrialist Sajjan Jindal, is set to expedite work on its proposed steel plant in Paradip. The project is now seen as critical to the company’s ambitious target of achieving an annual production capacity of 50 million tonnes by 2030.
A senior official from JSW Steel confirmed that following the Supreme Court’s decision declaring the acquisition of Bhushan Power & Steel illegal, doubts have emerged regarding the company’s expansion roadmap. To stay on track with its production goals, the Paradip project has now become a strategic necessity.
Speaking to media, Jayant Acharya, Joint Managing Director and CEO of JSW Steel, said the company is closely monitoring the outcome of its review petition in the Supreme Court. “If the judgment does not go in our favor, we will look at alternate expansion options, one of which is the Paradip steel project,” he said.
The company is already laying the groundwork for the project by constructing a slurry pipeline from its captive iron ore mines to the Paradip pellet plant. In the first phase, JSW Steel plans to set up a 5-million-tonne integrated steel plant near its existing pellet unit in Paradip.
Earlier this year, in February, the JSW Group announced a massive ₹65,000 crore investment plan in Paradip. The proposal includes the development of a 13.2 million-tonne steel plant, a cement manufacturing unit, a captive power plant, and logistics infrastructure. After receiving 2,958 acres of land from IDCO (Industrial Infrastructure Development Corporation of Odisha), JSW laid the foundation stone for the steel plant.
Currently, JSW Steel operates two captive and one merchant iron ore mines in Odisha. Strengthening its resource base, the company also acquired Saffron Resources for ₹679 crore, gaining access to an additional 887 acres of land. The acquisition is expected to bolster JSW’s long-term plans and increase its industrial footprint in the state.
Industry observers believe that the Paradip project will not only support JSW’s production goals but also generate significant employment and ancillary industrial growth in Odisha. With strategic location advantages and port connectivity, Paradip is emerging as a major hub for large-scale industrial investment in eastern India.
As Odisha continues to attract mega investments in the metal and mining sector, JSW Steel’s accelerated plans mark a key milestone in the state’s industrial development journey.
