With work going on at a fast pace in the area, the plant will be ready by March next year, Narendran said to a question here.
The Odisha project is the second integrated unit of the home-grown steel major in India after Jamshedpur.
Meanwhile, referring to the closure of iron-ore mines, he said this has posed challenges for the private steel major.
Of the 2.5 million tonne requirement of raw material, Narendran said: "1.6 million tonne was imported even though our mines are merely a few hundred kilometres away from location."
Narendran, who was talking to media after inaugurating the first four-day Pan-India Tribal Conclave-Samvaad at Gopal Maidan here, said the country has potential to achieve 7-8 per cent growth rate though it was not an easy task.
The government has to improve the infrastructure sector to realise this pace of growth, he said.