JSW Steel Shares Rise After Launch Of ₹65,000 Crore Odisha Project

JSW Steel shares gained more than 1% in afternoon trade on May 27 after the company formally launched construction of its greenfield integrated steel plant at Paradeep in Odisha.

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According to NSE data, the stock was trading at ₹1,310, higher by ₹16.40 or 1.27% during the session.

The proposed Paradeep Integrated Steel Plant will be developed in multiple phases with a planned production capacity of 13.2 million tonnes per annum (MTPA). JSW Steel said the total investment for the project is estimated at nearly ₹65,000 crore.

The foundation ceremony was attended by Odisha Chief Minister Mohan Charan Majhi, senior government officials and Sajjan Jindal.

Plant To Be Built Across Nearly 2,950 Acres

The company said the project site spans around 2,950 acres along Odisha’s coastline. JSW Steel expects the coastal location to support logistics efficiency through port connectivity and easier access to domestic and export markets.

The company added that the plant has been designed with future expansion possibilities depending on market demand and industry requirements.

JSW Steel said the project is aligned with rising steel consumption in India, supported by infrastructure spending, urban development and manufacturing growth.

Speaking at the launch event, Sajjan Jindal described the project as an important milestone for the company’s long-term expansion plans. He also said Odisha has emerged as a major industrial destination due to infrastructure development and policy support.

Expansion Plans To Increase Capacity

Jayant Acharya said the integrated infrastructure and strategic coastal location are expected to improve operational efficiencies and strengthen the company’s market reach in India and overseas.

Anil Singh said the company would continue working with the Odisha government and local stakeholders for the development of the project.

JSW Steel stated that the investment also supports the Centre’s Mission Purvodaya programme, which focuses on accelerating industrial and manufacturing growth in eastern India.

The company currently has a combined crude steel production capacity of 37.9 MTPA, including output from its joint venture with JFE Steel of Japan.

JSW Steel plans to expand its overall steelmaking capacity to 54.8 MTPA over the next four years as part of its broader growth strategy.

The Paradeep facility is expected to play an important role in the company’s future plans for production expansion and supply chain integration.