JSPL to Set up a 1400 acre Industrial Park at Parang in Angul

0
188

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.

Comments

comments

SHARE
Next articleCII Summit stresses on importance of Independent Directors in Corporate Governance
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to editor@indiacsr.in