Jindal hails Odisha’s ‘industry-friendly’ policies

Jindal hails Odisha’s ‘industry-friendly’ policies

Bhubaneswar: Jindal Steel and Power Limited Chairman Naveen Jindal on Sunday lauded the efforts of Odisha Government to conduct the upcoming auction of iron ore blocks in a transparent manner and said the company will participate in it.
Jindal, after meeting Chief Secretary Suresh Chandra Mohapatra, expressed confidence on the State’s “industry-friendly” policies. He also hailed the pre-emption policy for ensuring raw materials to local steel industries.
Replying to a question, Managing Director V R Sharma said, “JSPL will participate in the forthcoming auction of iron ore mines in Odisha. Irrespective of the auction’s outcome, we are confident the State Government would make all out efforts to protect the raw material security for industrial units in the State.” Odisha Government had last month issued a Notice Inviting Tender (NIT) for online auction of 11 more mining blocks, including seven virgin blocks.
JSPL is the largest investor in the State in the iron and steel sector with an investment of more than Rs 45,000 crore.
“In the next 10 years, the company would increase its investment in Odisha to more than Rs 1,00,000 crore. The expansion is expected to generate enormous economic activity and employment opportunities in the State,” Jindal said.
He also expressed gratitude to the State Government for approving the proposed expansion of its Angul steel plant to 25.2 MTPA from 6 MTPA by 2030.

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