JSL to set up stainless steel industrial park in Odisha
Bhubaneswar/IBNS: Odisha Chief Minister Naveen Patnaik and Jindal Stainless MD Abhyuday Jindal Thursday laid the foundation stone of a stainless steel industrial park through a virtual ceremony held in Bhubaneswar.
Planned in two phases over six years, the industrial park has an investment potential of more than Rs 1500 crore and is set to generate employment opportunities for nearly 19,000 people, according to Jindal Stainless (JSL).
The event was held on the sidelines of the Make in Odisha Conclave 2022.
According to a JSL press release, the park will be spread over an area of 271 acres and is expected to create a robust ecosystem for the stainless steel industry, and promote over 100 downstream and ancillary manufacturers.
The first-ever stainless steel industrial park in India is expected to boost the alloy’s production and demand in east India, and support the government’s objective to catapult the iron and steel industry in the state to greater heights, JSL said.
The project seeks to strengthen upstream and downstream industry linkages and empower indigenous manufacturing, it added.
To be built as a natural extension of Jindal Stainless’ Jajpur manufacturing facility, the park is strategically connected with prominent highways for the timely supply of raw materials and dispatch of finished goods.
Sharing his view on the development, Managing Director, Jindal Stainless, Abhyuday Jindal said, "We intend to make Odisha a name to reckon with in the global stainless steel industry. We want to achieve 360-degree integration in both production and business functions.”
The industrial park will enable seamless flow from raw material to finished goods stage while it will also empower all related stakeholders through assured procurement and sales, capacity development, employment generation, infrastructure modernization, socio-economic development, and industrial maturity – leading to overall economic growth, he said.
The strategically located downstream park will have advanced logistics services like wider loop roads and ample parking space.
It will be backed by utility services like renewal power, water, and skilled manpower.
These parameters make the stainless park an attractive destination for entrepreneurs to set up their plants, JSL said.
It will give a push to the augmented demand for the creation of smart cities.
“Using its five decades of operational experience, Jindal Stainless will impart specialized technical and skill training to the working demographic through a dedicated Training Center,” the company said.
JSL also has a co-branding scheme which would be extended to the target products and applications range, it added.
Already in its expansion phase, the company’s Jajpur facility will nearly double its melt capacity from 1.1 MT to 2.1 MT by the end of FY23.
The industrial park will bolster the company’s presence in several consumer segments such as automotive, architectural, building and construction (ABC), pipes and tubes, industrial goods, consumer goods, lifestyle, kitchenware, and urban furniture, JSL said.
The park is expected to witness participation from varied industries, including pharmaceuticals, food processing, petrochemicals, and defense, it added.
With its just-in-time logistical supply chain model, the Industrial Park will save time and reduce the cost of secondary and tertiary industries that are dependent on the steel industry for their primary raw material, it said.