Jindal Stainless Steel to set up a steel plant in Orissa

Jindal Stainless Steel to set up a steel plant in Orissa

According to recent news in the market, Indian steel producer Jindal Stainless Steel (JSS) is planning to build a steel plant in Orissa state, with an investment of Rupees 70 billion ($1.5 billion). It is stated that this project is one of the many steel projects planned to be constructed in the region. As previously reported by SteelOrbis, major steel producers, such as Arcelor, POSCO and BHP Billiton as well as major Indian steel producers plan to invest in the region as it has huge iron ore deposits. JSS' planned investment is one of the largest steel projects in the region. When the project is completed, the plant, which will produce 1.6 million tons of stainless steel, 300'000 tons of ferro chrome, 160'000 tons of ferro manganese and ferro silicon, will be one of the largest special steel plants in the country. The project is expected to be completed in three or four years. However, due to JSS' concerns about raw material availability, it has announced that it will seek to supply raw materials from overseas.