Orissa to see $10 billion investment from Jindal Steel

Orissa to see $10 billion investment from Jindal SteelJindal Steel and Power is looking forward to invest $10 billion in Orissa. The investment will go forward for the setting up of a coal-to-liquid plant and also on the building of a 2,000 MW thermal plant in the eastern state of India.

This was told by Navin Jindal, the Managing Director of the company, during a press conference in the capital state of Bhubaneswar on Tuesday.

He further added that the Orissa government and Jindal group would be signing an agreement in the next two to three months' time for the coal-to-liquid project. The power plant will take some more time.

Proving his announcement true, a senior official of the state steel and mines department said that an agreement for the proposed investment of Rs. 1 trillion or $2 billion has been received by the state government as of now. The $10 billion plan has also been proposed.

There are reports that the company has already been allocated a coal block in the Angul district and the proposed plan is now looking for 2,000 hectares of land approval now. About 4,000 hectares has already been given to the company.