has started work on 13.2 million tonne per annum with an investment of Rs 65,000 crore at Paradeep in .
The plant, to be developed by JSW Steel in phases, will span 2,950 acres and be strategically located on the coastline, offering port connectivity, access to raw materials, and logistics infrastructure to serve both domestic and international markets.
The investment in the new plant comes on the back of fresh fund inflows into JSW Steel from the sale of a 50 per cent stake in its subsidiary, Bhushan Power and Steel, to its joint venture partner, JFE Steel Corporation.
JSW Steel received ₹24,283 crore in cash from a slump sale of BPSL’s assets to a subsidiary, JSW Sambalpur Steel. JFE will fund ₹7,875 crore of this transaction, and the remaining ₹16,608 crore will be raised as fresh debt by BPSL and JSW Sambalpur Steel.
Subsequently, JFE will pay another ₹7,875 crore in a second tranche, which will again be recorded on JSW Steel’s books, resulting in an inflow of ₹32,250 crore into JSW Steel from the BPSL stake transfer.
Additionally, BPSL debt of ₹5,000 crore will be transferred from JSW Steel’s consolidated books to the joint venture structure, resulting in a total benefit of ₹37,250 crore for JSW Steel.
Odisha central to JSW Steel’s growth strategy
Sajjan Jindal, Chairman and Managing Director, JSW Group, said the commencement of the Paradeep Integrated Steel Plant project marks a defining moment in JSW Steel’s growth journey and reaffirms the company’s belief in India’s long-term manufacturing potential.
Odisha has emerged as one of the country’s most attractive industrial destinations, supported by progressive policies, world-class infrastructure and a strong commitment to economic development, he said.
Jayant Acharya, Joint Managing Director and CEO, JSW Steel, said the plant’s strategic coastal location, integrated infrastructure and access to logistics networks will enhance operational efficiencies and strengthen the company’s ability to serve customers across domestic and global markets.
As India’s steel demand continues to grow alongside infrastructure development, urbanisation and manufacturing expansion, the project will play an important role in supporting the nation’s industrial ambitions.
Long-term expansion and manufacturing push
The project represents one of the largest investments undertaken by the company and underscores its long-term commitment to strengthening India’s manufacturing capabilities while contributing to Odisha’s industrial transformation, JSW Steel said.
The project has been planned with the long-term potential to expand capacity in the future, in line with market demand and JSW Steel’s long-term growth strategy, it said.
Anil Singh, President, JSW Steel, said the Group will work closely with the Odisha Government and local stakeholders to build a modern steel manufacturing facility that creates long-term value for the region and the nation.
For JSW Steel, Odisha remains central to its long-term growth plans. The commencement of the Paradeep Integrated Steel Plant represents not only an investment in capacity and infrastructure but also a strong commitment to partnering in the state’s economic progress and contributing to India’s emergence as a global manufacturing powerhouse, it said.