Naveen Jindal-promoted Jindal Steel and Power (JSPL) hopes to commission the first phase of its 6 million tonne per annum (MTPA) steel plant in Angul district of Orissa by October 2010. In the first phase, it will have a capacity of 3 mtpa. It has already invested about Rs 4000 crore for the acquisition of land, equipments and placing orders for equipments.
“Our Angul project is progressing very well and the first phase is likely to be commissioned by October 2010”, Naveen Jindal, executive vice-chairman and managing director, JSPL, said.
Talking to the media after meeting the chief minister, Naveen Patnaik in the state secretariat, Jindal said, the company is investing about Rs 15,000 crore in the facility at Angul. In addition the company is also investing about Rs 5000 crore for a 1500 Mw power plant.
The company has initiated series of measures for peripheral development. Apart from the electrification of 18 peripheral villages, the company has introduced mobile hospital, drinking water and rural roads.
JSPL spent Rs 2 crore during last fiscal and targets to spent Rs 5 crore on various Corporate Social Responsibility (CSR) initiatives. It is setting up a vocational training centre to increase the livelihood opportunities for the local people. Besides an ITI is being opened near the project site, he said.
He, however, ruled out any possibility of further investment in Orissa saying that the company accords priority to the completion of the project in time.“ We want to instil a sense of ownership in the minds of the locals and want to complete the project in time”, Jindal added.
Official sources said, the company has started the civil construction work and it has agreed to pay higher ex-gratia to the land loosers, which will be disbursed soon.
