JSW Utkal Steel (JUSL), a wholly-owned subsidiary of JSW Steel, has received environmental clearance to set up an integrated steel plant of 13.2 million tonne per annum (MTPA) crude steel in Odisha.
The capital expenditure for the environment-friendly steel plant project is expected to be about Rs 65,000 crore, including associated facilities. The phase-wise work for the project will start once the land is handed over to the company by the Odisha government, the company said in a statement.
The mega project will generate huge employment opportunities in the region, which, in turn, will boost the economy of the state, it added.
The project was accorded environmental clearance by the Union Ministry of Environment & Forest and Climate Change (MoEF&CC), after public hearings.
JSW Steel has adopted a specific climate change policy and is targeting to reduce CO2 emissions by 42% by 2030 over the base year of 2005.
JSW Steel is also investing in R&D for sustainable products and emission control, resource optimisation, process efficiency and ensuring a multi-pronged digital focus to improve existing practices. The company had issued the global steel industry’s first sustainability-linked US dollar bond in 2021, which is linked to its decarbonization target for 2030.