India’s BC Jindal Group will invest an estimated $2 billion to construct a new greenfield downstream steel facility in the eastern coastal state of Odisha, a company statement said. The proposed project will focus on producing value-added steel products, catering to both domestic and export markets, the company added.
According to the statement, the new facility will be located in the Kendrapara district of Odisha and will generate significant employment opportunities while boosting the state’s industrial growth.
Green hydrogen initiative
In line with its sustainability goals, BC Jindal Group has partnered with Greenzo Energy India Ltd, which will deliver a green hydrogen plant with an annual capacity of 472,000 kilograms for Jindal Stainless in Odisha.
The use of green hydrogen is expected to reduce carbon emissions and strengthen the group’s commitment to achieving net zero targets in the coming decades.