JSW Steel begins construction of a new steel plant in Odisha

The total investment in the project is estimated at $6.8 billion

India’s JSW Steel has begun construction on its 65,000-crore-rupee ($6.8 billion) steel plant in Paradip, Odisha, according to The Hindu.

According to the company, the integrated steel plant in Paradip will be built in phases. Its planned annual capacity will be 13.2 million tons.

The facility will be strategically located on the coast of Odisha, ensuring convenient port connections and access to raw materials, as well as a reliable logistics infrastructure to serve both domestic and international markets.

The project will be one of the state’s largest industrial investments and will include supporting infrastructure.

In early 2000, South Korean steel giant POSCO proposed building a steel plant at the same site. However, the project could not be implemented at that time due to resistance from local residents.

According to state government forecasts, steel production at the facility is likely to begin as early as 2028.

As a reminder, JSW Steel, India’s largest steel producer, has announced ambitious expansion plans. In the next fiscal year (2026/2027), the company’s capital expenditures will range from 220 to 240 billion rupees (approximately $2.5 billion). This is nearly 50% more than the previous year’s investments.

By 2030, JSW Steel plans to increase its total capacity to 48.8 million tons per year (up from the current 31.9 million tons). The company’s investment activity is driven by the rapid development of the country’s infrastructure.