The Industrial Park, to become operational by end of 2014, will be set up with a total investment of Rs 500 crore and will create direct and indirect employment for approximately 32,000 people. The total investment by prospective entrepreneurs in the Industrial Park is expected to be more than Rs 5,000 crores.
India CSR News Network
BHUBANESWAR: In order to leverage its large steel and power manufacturing capacity along with its Coal To Liquid Plant gasification plant and 80,000 barrel per day CTL project, Jindal Steel and Power Limited (JSPL) has signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up a Downstream Industrial Park for the development and industrialization of Angul in Odisha.
Advantages to Odisha Govt
i. Creation of 32000 employments approximately.
ii. Generate tax revenue worth Rs 700 crores per annum.
iii. The employment generated in the Industrial estate alone is expected to enhance Angul’s gross domestic product by an estimated Rs. 240 Cr annually.
iv. It is expected that once the Industrial estate is fully operational, it would attract large investments to the tune of more than Rs 5000 Crores in the MSME Sector from local entrepreneurs.
The MOU was signed today by T. Ramachandru, Principal Secretary, Industries Department on behalf of the Government of Odisha and Anand Goel, Joint Managing Director on behalf of JSPL.
The MoU was signed in the presence of Rajesh Jha, Executive Director (Projects), JSPL, Raghunath Mohanty, Minister Industries, Steel & Mines, Parliamentary Affairs and Manoj Ahuja, IAS, Commissioner-cum-Secretary, Steel & Mines Department.
The Industrial Park at Parang in Angul will provide a unique opportunity to the entrepreneurs of Odisha to set up their Industrial Units in the shortest possible time.
It will be set up over an area of 1,400 acres and will focus on select target recovery based industries and other medium and small-scale downstream units that would both add value and result in increased industrial activity.
The Industrial Park is expected to become operational by the end of 2014. To be set up with an investment of Rs 500 crores, the Industrial Park will create direct and indirect employment for approximately 32,000 people.
The total investment by prospective entrepreneurs in the Industrial Park is expected to be more than Rs 5,000 crores.
JSPL also seeks to meet the power requirements of Industrial Units coming up in the Industrial Park by supply of power from its CPP and IPP coming up at Angul. The company proposes to take a distribution license for supply of power to the industrial Park.
JSPL’s 6 MTPA integrated steel plant including coal gasification unit and 80,000 Barrels/day CTL Project provide an ideal base for primary industry clusterisation at Angul. The first phase of the steel plant (2MTPA) is expected to be commissioned by June 2012. The company has invested Rs 12,000 crores in the project uptill now.
Not only is there immense scope in leveraging linkages with the existing products of JSPL, but there is also ready and adequate availability of power and of various by-products (generated during steel making and CTL Project) that are critical inputs for the manufacture of products such as Portland cement, pre-fabricated concrete, fly ash products, steel fabrication units, ferry alloys units, chemical units etc.
Furthermore, there also exists the opportunity to establish manufacturing facilities that provide critical inputs to JSPL’s plant at Angul.
In addition to this primary clusterization, JSPL also proposes to catalyze investments in several industries of local agricultural relevance, leveraging on the district’s primary produce.
JSPL has earlier successfully implemented an Industrial Park at Punjipathra in Raigarh district of Chhattisgarh, fuelling development and growth in the state.
Spread across 750 acres, and at an investment of Rs 265 crores, the Jindal Industrial Park at Raigarh has been strategically designed to fulfill the company’s objective of developing the backward areas of Chhattisgarh and create job opportunities for the large number of underprivileged people of this backward area of Chhattisgarh.
The company provides infrastructural assistance by providing land, roads, drains, houses, substations, technical/marketing support along with consistent supply of power at a competitive rate to the units established in the park.
Till date, 30 such units are flourishing and 40 more are in the pipeline. The company is holding a distribution license for supplying power to the units in the Industrial Park at Raigarh. This Industrial Park has created direct and indirect employment for more than 10,000 persons of this backward region of Chhattisgarh.