The government of the eastern Indian state of Odisha has commenced the process of land acquisition in the Keonjhar district for a $4.6 billion greenfield steel mill proposed to be constructed by a joint venture of JSW Steel Limited and South Korea’s POSCO, a government official said on Wednesday, August 6.
The joint venture company will need to deposit the necessary funds for the government to acquire two land sites identified for the 5 million mt per year capacity project, the official said.
The new project will give a fresh boost to steel projects in the state, which in 2017 has suffered a setback when POSCO abandoned a greenfield steel mill project to be located near the port town of Paradip.
