Jindal (India) Gets Nod for ₹3,600 Cr Odisha Steel Plant, Sets Stage for ₹15,000 Cr Investment Plan

Mumbai, 8 July 2025: Jindal (India) Ltd has received the green signal from the Odisha government’s High-Level Clearance Authority (HLCA) for its ₹3,600 crore greenfield steel project. This marks the first phase of the company’s broader plan to invest ₹15,000 crore in the state by 2030, with the aim of significantly expanding its steel manufacturing footprint.

On 8 July 2025, shares of Jindal Steel and Power Ltd (NSE: JINDALSTEL) showed marginal movement, trading at ₹954.70 as of 1:08 PM IST, up by 0.13% or ₹1.20 from the previous close. The stock opened at ₹950.55, touched an intraday high of ₹957.35, and a low of ₹947.00. Despite the news of Jindal (India) Ltd’s ₹3,600 crore steel project approval in Odisha, Jindal Steel and Power’s stock remained largely steady, reflecting limited direct market impact.

New Plant to Focus on High-Demand Special Coated Steel Products

The upcoming facility will specialise in the production of special coated steel, catering to a wide range of downstream industries. Scheduled for commissioning by 2027, the plant will feature advanced infrastructure including a Cold Rolling Mill (CRM), Continuous Galvanizing Line (CGL), and a Colour Coating Line (CCL). The facility is designed with an annual capacity of 9.6 lakh metric tonnes (MT), positioning it to meet growing domestic and global demand for coated steel products.

Long-Term Expansion Targets 30 Lakh MT Capacity by 2030

Jindal (India) Ltd, through its wholly-owned subsidiary Jindal India Steel Tech Limited (JISTL), plans to expand the plant’s flat product division to 30 lakh MT per annum by 2030. The strategic roadmap also includes setting up a steel pipe manufacturing unit with a projected capacity of 2 lakh MT per annum, further diversifying its product offerings and strengthening its presence in the infrastructure and construction sectors.

Project to Boost Local Economy, Create Employment and Cut Import Dependency

According to the company, this project will not only enhance India’s steel manufacturing capabilities but also reduce dependency on imported coated steel products. It is expected to generate significant employment opportunities, contributing directly to Odisha’s industrial growth and aligning with national goals for self-reliant infrastructure development.

Commitment to Strengthening India’s Steel Ecosystem Through Strategic Investment

This project reflects Jindal (India) Ltd’s long-term vision to become a key player in India’s evolving steel ecosystem. With its focus on high-value coated steel products and a phase-wise expansion plan, the company is well-positioned to support the country’s growing infrastructure needs while driving economic activity in Odisha.

The ₹3,600 crore approval marks a major milestone in the company’s ₹15,000 crore investment pipeline – affirming its strategic commitment to the region and the broader Indian manufacturing sector.

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