JSW Group-Backed Steel Company Starts Development Of Rs 65,000 Crore Odisha Steel Plant; FII Stake Increases

JSW Steel starts development of Paradeep steel plant

JSW Steel announced commencement of development of its fully-owned greenfield integrated steel plant at Paradeep, Odisha. The company stated that the project represents one of the largest investments undertaken by JSW Steel and will be developed in phases with a planned capacity of 13.2 million tonnes per annum (MTPA).

The company stated that the project involves an estimated investment of around Rs 65,000 crore and is spread across nearly 2,950 acres along Odisha’s coastline. According to the filing, the coastal location provides strong port connectivity, access to raw materials and logistics infrastructure, enabling efficient servicing of both domestic and international markets.

JSW Steel added that the project has been master-planned with future expansion potential in line with market demand and the company’s long-term growth strategy.

Project aligned with Mission Purvodaya

The company stated that the Paradeep project aligns with the Government of India’s Mission Purvodaya initiative aimed at accelerating industrial development in eastern India.

The commencement ceremony was attended by Odisha Chief Minister Mohan Charan Majhi, senior state government officials and JSW Group leadership led by Sajjan Jindal.

Once operational, the project is expected to strengthen Odisha’s position as a steel manufacturing hub while supporting India’s steel production capacity expansion plans.

Management commentary

Mr. Sajjan Jindal, Chairman & Managing Director, JSW Group, said: “The project commencement of the Paradeep Integrated Steel Plant marks a defining moment in JSW Steel’s growth journey and reaffirms our belief in India’s long-term manufacturing potential. Odisha has emerged as one of the country’s most attractive industrial destinations, supported by progressive policies, world-class infrastructure and a strong commitment to economic development. This project reflects our confidence in the state’s future and our commitment to creating globally competitive manufacturing assets that contribute to India’s growth story.”

Mr. Jayant Acharya, Joint Managing Director & CEO, JSW Steel, said: “The project will be a key pillar in JSW Steel’s long-term growth strategy. Its strategic coastal location, integrated infrastructure and access to logistics networks will enhance operational efficiencies and strengthen our ability to serve customers across domestic and global markets.”

Mr. Anil Singh, President, JSW Steel, said: “We are delighted to commence development of this landmark project at Paradeep. We look forward to working closely with the Government of Odisha and local stakeholders to build a world-class steel manufacturing facility that creates long-term value for the region and the nation.”

Shareholding and Stock performance

JSW Steel Ltd traded at Rs 1,309.55 on May 27, 2026, at 3:45 PM, compared to the previous close of Rs 1,295.25, reflecting a gain of 1.10 per cent during the session.

The stock has delivered returns of around 25.54 per cent over the past one year, while two-year and three-year returns stood at 42.48 per cent and 84.63 per cent respectively. The stock’s 52-week high and low stood at Rs 1,297.05 and Rs 968.65 respectively. Domestic institutional investor holding increased to 11.16 per cent from 11.06 per cent, while foreign institutional investor holding remained unchanged at 25.37 per cent.

About JSW Steel

JSW Steel Ltd is the flagship steel business of the JSW Group and one of India’s largest integrated steel manufacturers. The company operates manufacturing facilities across India, the United States and Italy, with combined crude steel capacity of 37.9 MTPA including joint venture operations.

The company supplies steel products across sectors including infrastructure, construction, automotive and engineering. JSW Steel is also focused on capacity expansion, sustainability initiatives and low-carbon steel manufacturing technologies.

What are your views on JSW Steel’s Rs 65,000 crore Paradeep steel plant project and India’s steel sector expansion plans? Share your thoughts in the comments below.
Disclaimer: This article is for informational purposes only and not investment advice.