Latest News | JSW Odisha Project Gets Environmental Clearance
Get latest articles and stories on Latest News at LatestLY. JSW Utkal Steel Ltd (JUSL), a wholly-owned subsidiary of JSW Steel Ltd, has got the environmental clearance for setting up a 13.2 MTPA green-field integrated steel plant near Paradip from the union ministry of environment and forest and climate change, a senior official of the company said.
Bhubaneswar, Apr 11 (PTI) JSW Utkal Steel Ltd (JUSL), a wholly-owned subsidiary of JSW Steel Ltd, has got the environmental clearance for setting up a 13.2 MTPA green-field integrated steel plant near Paradip from the union ministry of environment and forest and climate change, a senior official of the company said.
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The mega crude steel project will generate huge employment opportunities in the region and boost the economy of Odisha, he said.
The capital expenditure for the modern, green and environment-friendly integrated steel plant is expected to be approximately Rs 65,000 crore including associated facilities like a 10 MTPA cement grinding unit and a 900 MW captive power plant, a statement issued by the company said.
The phase-wise work for the project will start once the land is handed over to the company by the Odisha government, it said.
The project is one of the largest in the manufacturing sector in the country and the ministry of environment gave the clearance after successful public hearings, the company said.
JUSL has earmarked budgets for social interventions under public health, education, skill development, social infrastructure, waste management, environment, drinking water, women empowerment among others.
Additionally, the company has plans to work for environment protection and mitigation measures based on the environment impact assessment.
It said JSW Steel has adopted a specific climate change policy and set an ambitious carbon dioxide emission reduction target of 42 per cent over the base year of 2005 by 2030 to a level of 1.95t CO2/tcs.
The company is also investing in research and development for sustainable products and emission control, resource optimization, process efficiency and for ensuring multi-pronged digital focus to improve existing practices.
JSW Steel issued the global steel industry's first sustainability-linked US dollar bond in 2021 linked to its decarbonization target for 2030. The target set by JSW Steel is much steeper than those committed as per India's Paris Accord nationally determined contributions and is aligned with the sustainable development scenario pathway of the International Energy Agency, the company said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)