India’s JIL receives approval for $420.2 million steel plant project

Pipe and cold-rolled steel producer Jindal (India) Limited (JIL) has received approval from the Odisha state government for a project to build a new steel plant in Dhenkanal worth 36 billion rupees ($420.2 million), according to The Hindu BusinessLine.

In total, JIL plans to invest 150 billion rupees in Odisha in three phases by 2030, with the current investment being the first phase. The project involves the construction of a modern plant that will focus on the production of steel products with special coatings. The facility will be commissioned by 2027, with a production capacity of 960,000 tons per year.

Jindal India Steel Tech Limited (JISTL), a subsidiary of Jindal, will also increase its flat steel production capacity in Odisha to 3 million tons per year by 2030.

“Along with enhancing the company’s domestic manufacturing capabilities, the green-field manufacturing plant will reduce reliance on imports and generate employment opportunities in the state. The modern facility will also strengthen Jindal (India) Ltd’s footprint in Odisha’s growing industrial sector,” said a company spokesperson.

JIL also intends to establish a steel pipe manufacturing plant with an estimated annual production capacity of 200,000 tons.

Jindal (India) Limited is part of the BC Jindal Group, a leading Indian conglomerate. The company currently has two plants, both in the Howrah district of West Bengal.

In the first two months of the 2025/2026 financial year (April-May), India reduced its imports of rolled products by 27.6% year-on-year – to 0.9 million tons. Its exports from the country fell by 18.1% year-on-year – to 0.8 million tons.