JSW Group will invest Rs 1.5 lakh crore in the Vidarbha region, the group’s chairman and managing director, Sajjan Jindal, said on Friday, at an industry event.
This will be half the investment the group has committed to Maharashtra at the World Economic Forum in Davos, last month.
ALSO READ‘Guys, Eternal is the parent…’: Zomato clears the air on name change and rebranding
A chunk of the investment will go to setting up a new steel plant in the region.
“We will set up a 25 MTPA (million tonne per annum) steel plant here (in Vidarbha region). It will not only be the world’s largest steel plant, but also the most environment-friendly steel plant. We will invest Rs 1 lakh crore for this over the next seven to eight years,” Jindal said at Invest Vidarbha 2025.
Invest Vidarbha is part of the second edition of Advantage Vidarbha, a three day event focusing on industrial development in the region.
The investment will be deployed in phases, with the first phase spanning four years, he added. The steel plant will be set up in the Gadchiroli city in the Vidarbha region.
Additionally, the group will also set up a solar wafer, cell and module manufacturing plant at Butibori, with an investment of Rs 11,000 crore, and a 50 GWh cell manufacturing plant, also at Butibori, with an investment of Rs 25,000 crore. Both the Butibori plants are expected to create 10,000 jobs in the region.
ALSO READMore than two-thirds of India’s top influencers flouting disclosure norms: ASCI report
“This region is centrally located, which helps with logistics to transport (material) to all four corners of the country,” Jindal added, and urged the people of the region to use the plant and its products to grow their businesses as well.
Late last month, the group entered the non-ferrous mining segment when it won the mine operator and developer (MDO) contract for two blocks of copper mines in Jharkhand from the state-owned Hindustan Copper Limited (HCL), marking its foray into non-ferrous mining. It has earmarked an investment of Rs 2,600 crore towards this expansion.
» Read More
