JSW Steel Secures Land to Build Steel Manufacturing Facility

JSW Steel Ltd's subsidiary, JSW Utkal Steel, now owns 2,677.80 acres of forest land in Jagatsinghpur, Odisha, on which it plans to build a 13.2 million tonne integrated steel plant.

The company previously received environmental clearance from the Union Ministry of Environment, Forests, and Climate Change in April 2022, which was then re-validated by the ministry in September last year, with some additional and modified conditions.

"The Divisional Forest Officer, Mangrove Forest Division (WL), Rajnagar & the Collector have on January 4, 2024 delivered documents pertaining to the handing over of possession for the total forest land admeasuring 2677.80 Acres to JSW Utkal Steel Limited," the company said in a filing with the exchange on January 6.

JSW Steel will require a total of 2,950.31 acres of land for this project, of which the state government has already leased 272.51 acres to the company over the last two years.

The country's largest steel producer by production capacity is expected to spend?65,000 on establishing the plant, which will be one of the largest in the manufacturing sector.

POSCO, the South Korean steel giant, had previously planned to build a plant at this location, but it was forced to abandon the project due to local protests and delays in environmental clearance.