Under the project, which is planned to have an annual production capacity of 5 million tons, two plots of land have been identified in the Keonjhar region of Odisha. The joint venture must invest the necessary funds to continue the land acquisition process.
This development is seen as a significant revival of Odisha's steel sector goals following POSCO's withdrawal from its previous greenfield project near Paradip in 2017.
Upon completion, the project will play a significant role in increasing India's local steel production capacity and supporting regional economic development.
Comments
No comment yet.