The Sajjan Jindal-controlled JSW Group will set up a 10-million-tonne steel plant in Odisha at an estimated investment of Rs 50,000 crore. In the first phase, the company will set up a 4-million-tonne mill. Later, the capacity will be ramped up to 10 million tonnes. The location of the proposed steel mill might come up near the Paradip port. To overcome carrying iron ore by road, the company intends to lay a pipeline from the Barbil mines in Keonjhar district to Paradip to carry ore in slurry form. The cost of the 280-km pipeline is pegged at Rs 1,250-1,500 crore. JSW Steel is also keen on participating in auctions of iron ore blocks in Odisha. The steel maker had bid unsuccessfully for the first iron ore block offered by the state. Essar Steel emerged as the preferred bidder. JSW Steel is also pumping Rs 2,000 crore into two new dedicated berths for coal and iron ore at Paradip port. JSW Steel is the flagship company of the $11 billion JSW Group with an installed steel making capacity of 18 million tonnes per annum.
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