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JSL signs MoU for Stainless Steel Park |
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Business Posted On Wednesday, February 03, 2010 | United News of India
Bhubaneswar, Feb 3:
The Jindal Stainless Steel Limited(JSL), led by Ratan Jindal, today signed an MoU with the Orissa government to set up a Stainless Steel Park at Kalinga Nagar in Orissa's Jajpur district with an investment of Rs 704 crore.
The Stainless Steel Park will have 71 units, mainly auto components, surgical and hospital equipment, architectural products, hardware, stamping and forging, cold rolling and re-rolling mills, tubes and pipes heavy machinery and capital goods besides components for railway coach.
The JSL has requested the Orissa government to allocate 300 acres of land for development and implementation of the project and the state has agreed to allot suitable land near its upcoming Kalinga Nagar Industrial Complex.
The MoU was signed between JSL Chief resident manager Rajdeep Mohanty and Director Industries Hemant Sharma in presence of Chief Minister Naveen Patnaik and Industry Minister Raghunath Mohanty.
The JSL Limited is interested in developing the park for the proposed downstream industries producing various stainless steel products adjacent to its integrated stainless steel plant at Kalinga Nagar.
Orissa Chief Minister Naveen Patnaik thanked JSL Vice-Chairman and Managing Director Ratan Jindal for the initiative to set up the stainless steel park and said Orissa was emerging as metals mining and manufacture hub of the country.
He said the state government had already signed an MoU with the public sector NALCO for establishment of Aluminium Park at Angul recently and planning to set up similar down stream parks in the metal sector in other location.
The Chief Minister said as many as 29 steel plants have come up for production and the state is now poised to move up on the ladder of industrialisation by establishing more and more ancillary and downstream industries.
State Industry Minister Raghunath Mohanty said nearly Rs 5000 crore investment will be made by various companies in the Stainless Steel Park proposed by the JSL.
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Sunday, August 01, 2010