JSL to set up counry's first Stainless Steel Park in Orissa

Orissa government today signed an MoU with JSL Limited for setting up the country's first ever Stainless Steel Park (SSP) at Kalinga Nagar in Jajpur district at an investment of Rs704 crore.

JSL which was setting up a 1.6 mtpa steel plant at Kalinga Nagar and hopeful of commissioning its first phase production of 1 mtpa in September-October, 2010, announced to begin work for the SSP as soon as it vailed 300 acres required for the purpose.

"Though Gujarat is trying to set up such a SSP, we will complete it before that," said company's chief resident manager Rajdeep Mohanty who signed the MoU.

This is the second such industrial park in the state after signing of an earlier MoU with the Nalco for setting up an aluminium park at Angul, sources said.

"We are also planning to set up similar downstream parks in the metal sector in other locations as well," chief minister Naveen Patnaik said.

While the proposed SSP was expected to generate direct employment for 3,800 people and about 1200 indirect employment, the park would ensure high tax receipt for the state government of around Rs 140 crore for the first five years, said JSL's vice-chairman and managing director Ratan Jindal.

The SSP will manufacture auto components, surgical and hospital equipment, architectural products, hardware, stamping and forging, cold rolling and re-rolling mills, tubes and pipes, heat exchangers, heavy machinary capital goods, components for railway coach, kitchenware, life style products and stainless steel composite panel.

There will be 71 units in the proposed SSP of which one unit, service centre, would be set up by the JSL and rest 70 units to be set up by different industries, Mohanty said adding that Rs 85 crore would be spent on infrastracture development.

The response to such a SSP was high with at least five companies today signing MoUs with the JSL for setting up their units at the park.

The five companies were: Empowertrans Private Limited (re-rolling mill), Jagadamba Exports (kitchen tools), Jupitor India (Patta rolling and coil rolling), Kraftware Limited (CR Mill) and Kitchen Essentials (kitchenwares).