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The JSW Group has committed to invest another Rs One lakh crore in Odisha, its Chairman Sajjan Jindal said on Thursday.
While addressing the Make in Odisha Conclave, JSW Group Chairman Sajjan Jindal said the company has already committed Rs 60,000 crore during the previous event in 2018 and of which, over Rs 30,000 crore has been invested and the remaining amount will be pumped in soon.
“Today, we make a commitment to invest another Rs 1 lakh crore in the state in various sectors,” the JSW chief said on Thursday, adding that the investment will be made in building a mega greenfield steel plant in Paradip, a silicon facility which will be used for making solar panels, and in renewable energy and many other areas.
He, however, suggested that the state government should strengthen infrastructure. “The more we will create infrastructure, the more investors will come,” he said.
Earlier this year, the company had announced that it has set aside Rs 10,000 crore to reduce its carbon footprint. This sum will be used to boost the use of renewable vitality and other inexperienced initiatives.
“We have earmarked Rs 10,000 crore for investments to reduce our carbon emissions through various initiatives, such as increasing the use of renewable energy to replace thermal power, reduce our fuel rate through improved raw material quality via beneficiation, and deployment of Best Available Technologies (BAT),” Jindal stated.
The firm’s ongoing enlargement tasks are oriented in direction of producing metal with greater use of renewable energy, best-in-class digitalisation to obtain operational effectivity and finest out there applied sciences to reduce related CO2 emissions.
“We are consciously going beyond basic steel and are consistently maintaining the share of VASP (value added and special products) in our product mix to over 50 per cent,” he stated.