JSW Steel subsidiary gets EC clearance for Odhisha-based Greenfield Integrated Steel plant

12 Apr 2022 , 11:28 AM

The mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha. The capital expenditure for the modern, green and environment-friendly integrated steel plant (ISP) project is expected to be approx. Rs 65,000 crore including associated facilities. The phase-wise work for the project will start once the land is handed over to the company by the Government of Odisha. The project is one of the largest in the manufacturing sector in the country and Union Ministry of Environment & Forest and Climate Change (MoEF&CC) accorded the environmental clearance (EC) after successful public hearings.

JSW Utkal Steel (JUSL) has earmarked budgets for social interventions under public health, education, skill development, social infrastructure, waste management, environment, drinking water, women empowerment and so on. Additionally, based on the environment impact assessment (EIA), the company has plans to incur expenditure for the environment protection and mitigation measures.

Shares of JSW Steel fell 1.82% to Rs 753.30 on BSE. JSW Steel is primarily engaged in the business of manufacturing and sale of Iron and Steel Products.

The companys consolidated net profit advanced 69.2% to Rs 4,516 crore on 74.3 % increase in net sales to Rs 37,462 crore in Q3 FY22 over Q3 FY21.

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