JSW Steel subsidiary JSW Utkal Steel Ltd (JUSL) announced on Monday that it has received the environmental clearance for setting up a greenfield Integrated Steel Plant (ISP) of 13.2 million tonnes per annum (MTPA) crude steel from the Ministry of Environment and Forest and Climate Change.
JSW Steel, in an official statement, explained that this mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha state.
It added that the capital expenditure for the modern, green and environment-friendly integrated steel plant project is expected to be around Rs. 65,000 crore including associated facilities.
The company stated that the phase-wise work for the project will start once the land is handed over to the company by Odisha's government.
It further added that this is one of the largest in the manufacturing sector in the country and the government gave the clearance after successful public hearings.
The firm has earmarked budgets for social interventions under public health, education, skill development, social infrastructure, waste management, environment, drinking water, women empowerment, etc.
Based on the environment impact assessment, JSW Utkal Steel has plans to incur expenditure for environment protection and mitigation measures.
"As India's leading steel producer, JSW Steel has always been the front runner in incorporating sustainability into its core operations and decision-making practices, along with adopting the Best Available Technologies (BAT) to improve climate impact performance," the JSW Group firm added.
It explained that JSW Steel has adopted a specific climate change policy and has set an ambitious CO2 emission reduction target of 42 per cent over the base year of 2005 by 2030.
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