The Naveen Jindal owned Jindal Steel and Power Limited (JSPL) plans to set up a Rs 5,500 crore industrial park at Parang near here. The company has submitted the proposal in this regard to the state government.
The park will come up on 1,381 acre of land and is expected to create 30,000 jobs directly or indirectly.
Meanwhile, the company has completed the process of site selection and submitted the pre-feasibility report to the state-owned Industrial Promotion and Investment Corporation (IPICOL) in May last.
Out Rs 5,500 crore to be spent on the project, JSPL will invest Rs 500 crore while the rest Rs 5,000 crore will be raised from the industries which will locate their units in the park.
According to the project report, JSPL will provide all infrastructure facilities including water and power to the units inside the complex. The water for the complex will be sourced from river Mahanadi, situated about 65 Kms from the site.
The proposed park will house about 250 ancillary and downstream units. The other attraction of the park will be a knowledge hub where an engineering collage and training institutes will be set up to impart training to the job seeking youths.
Meanwhile JSPL has urged the government to expedite the process of clearance of its proposal so that a MoU could be signed at the earliest. “Our proposal is pending with the government and we expect it to be cleared soon paving the way for signing of MoU before work is taken up on the project,” said JSPL Executive Director Rajesh Jha.
The district administration will start land acquisition for the park after signing of MoU. The project will take two years to be completed.
