Angul, Sept.14: Jindal Steel and Power Limited (JSPL), which is setting up a six million-tonne steel plant here, has proposed to the state government to set up an industrial park at Parang.
“The proposal is pending with the government and we expect a memorandum of understanding to be signed soon so that we can start the construction work. It will take two years to complete the project,” the company’s executive director Rajesh Jha told The Telegraph.
“The park, with an investment of Rs 5,500 crore, will provide employment to about 30,000 people, directly and indirectly, and would go a long way for economic empowerment of the state,” he said, adding that the park was also likely to generate about Rs 636 crore revenue for the state.
“For our steel plant, we require a lot of finished materials such as by-products, semi-products, fabrication units, etc. These could be available from the facilities at the proposed industrial park,” he added.
According to project report, JSPL would spend Rs 500 crore while the remaining Rs 5,000 crore would be raised from the parties who would set up the park. JSPL would provide all sorts of infrastructural facilities including water and power to the units at the park. The site selection has been completed and a pre-feasibility report has been prepared and submitted to the Industrial Promotion and Investment Corporation Limited (PICOL) by the company in May. The company requires 1,381 acres of land at Parang for the park. Water will be sourced from the Mahanadi river situated at a distance of 65km from the site.
Angul’s special land acquisition officer Tapan Satpathy said the revenue department has permitted JSPL to acquire 1,381 acres of land at Parang.
and the revenue divisional commissioner had accorded permission for it. The process will start soon, he added.
The project report also said that there would be 250 units of 42 different varieties at the park. Inside the industrial park would be a knowledge park where two colleges — National Training Institute and Industrial Training Institute — would be set up.