Bhubaneswar, Nov 15 (Odisha.in) Steel and power producer Jindal Steel and Power Ltd (JSPL) on Tuesday signed an agreement with the Odisha government to set up an industrial park, state industries secretary P.Ramachandru said.
The pact was signed between senior officials of both the state government and the company at the state secretariate in the presence of senior officials and state steel and mines minister Raghunath Mohanty.
JSPL has proposed to set up the park over an area of 1,400 acres at Parjang in the district Angul, at about 161 kms from here at an investment of Rs.500 crore, he told Odisha.in.
This Industrial Park will provide a unique opportunity to the entrepreneurs of the state to set up their industrial units in the shortest possible time.
The park is expected to become operational from 2013-14, Rajesh Jha, executive director of the JSPL’s Odisha project told odisha.in
It will focus on select target recovery based industries and other medium and small-scale downstream units that would both add value and result in increased industrial activity, he said.The new project will create direct and indirect employment for approximately 32,000 people.
JSPL also seeks to meet the power requirements of industrial units coming up in the industrial park by supply of power from its captive power plant and independent power project coming up in the near by area. The company proposes to take a distribution license for supply of power to the industrial Park, he said.
JSPL is currently setting up a six million tonne per annum integrated steel plant, a coal gasification unit and 80,000 barrels per day capacity coal to liquid (CTL) project few kms away from the site where it wants to set up the park.
The first phase of the steel plant (2million tonne per annum is expected to be commissioned by June 2012. The company has already invested Rs 12,000 crores in the steel project so far, he said.
JSPL has earlier successfully implemented an industrial park at Punjipathra in Raigarh district of Chhattisgarh, fuelling development and growth in the state.
Spread across 750 acres, and at an investment of Rs.265 crores, the Jindal Industrial Park at Raigarh has been strategically designed to fulfill the company’s objective of developing the backward areas of that state and create job opportunities for the large number of underprivileged people.
The company provides infrastructural assistance by providing land, roads and drains along with consistent supply of power at a competitive rate to the units established in the park, he said.
Till date, 30 such units are flourishing and 70 more are in the pipeline.The company is holding a distribution license for supplying power to the units in the Industrial Park at Raigarh, he added.
The Industrial Park in Chhattisgarh has created direct and indirect employment to about 7,120 persons, he said.