BHUBANESWAR: Jindal Steel and Power (JSPL), which is setting up a six mtpa steel plant and a coal-to-liquid (CTL) project in the State, signed an MoU with the State Government for developing an industrial park at Parjang in Angul district entailing an investment of over ` 5,500 crore. “The proposed industrial park over 1,400 acres of land, with an estimated investment of over ` 5,500 crore is targeted to be completed by 2013-14,” JSPL Joint Managing Director Anand Goel told mediapersons after signing of the MoU. JSPL proposes to invest ` 500 crore in the project while other entrepreneurs would invest more than ` 5,000 crore in the industrial park, he said. The power requirement of about 400 MW for the park would be provided by JSPL from surplus electricity from its captive power plant (CPP) and independent power project (IPP) coming up at Angul, he added. The project would provide direct and indirect employment to 32,000 people, he said adding that the State Government is likely to get tax revenue worth ` 700 crore per annum from it. The State Government has asked the JSPL to give priority to employment to local people, their rehabilitation and resettlement and protect ecology, Industries Minister Raghunath Mohanty said. JSPL’s integrated steel plant, including coal gasification unit and 80,000 barrels a day CTL project, provide an ideal base for primary industry clusterisation at Angul, he said. The first phase of the plant (2MTPA) is expected to be commissioned by June 2012. The company has invested ` 12,000 crore in the project till now, Goel said.
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