Odisha government has approved a proposal of Jindal Stainless Ltd (JSL) for setting up a private industrial estate near Kalinga Nagar in Jajpur district.
A high-level meeting chaired by Chief Secretary A P Padhi gave a go-ahead to the proposal on Wednesday.
Padhi asked the concerned authorities to complete the work in the first phase within three years from the date of land allotment.
The industrial estate will be developed in two phases.
Chairman-cum-managing director (CMD) of Industrial Infrastructure Development Corporation (IDCO) Sanjay Singh said the downstream cluster will manufacture and supply stainless steel products, including construction materials, architectural designs, pipes, industrial goods, lifestyle consumables, kitchen wares and others.
A Special Purpose Vehicle for the purpose has already been formed, they said.
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Meanwhile, the IDCO has identified around 300 acres of land to be allotted for the industrial estate. Water requirement of 2.54 MLD (million litre per day) will be sourced from the intake well of JSL in river Bramhani.
The power requirement for the proposed estate is around 40.58 MW, which will be met both from the CPP of JSL and the NESCO grid.
The industrial estate envisages an investment of around Rs 1,532 crore with an employment potential of 19,000 persons, official sources said.
As per preliminary estimates, around Rs 168 crore will be invested for infrastructural development and creation of common facility centres. JSL will be the anchor investor.