What is the status of the mega steel plant project in Odisha's Keonjhar district?

The Odisha government has announced that the land acquisition process for the $5.5 billion mega steel plant in Keonjhar district will begin soon, as the required funds have been deposited by the company.

Who are the partners in the Keonjhar steel plant project?

The mega steel plant is a joint venture between India's JSW Group and South Korean steel giant POSCO, with an initial production capacity of 5 million tonnes per annum (MTPA).

Home / Business and Economy / Odisha Secures $5.5 Billion Steel Plant, Boosting Local Economy

Odisha Secures $5.5 Billion Steel Plant, Boosting Local Economy

Q: How will the Keonjhar steel plant impact the local economy?

The establishment of the $5.5 billion steel mill is expected to significantly boost the mineral-rich Keonjhar district's economy and provide new employment opportunities for local youth.

3 Aug

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Summary

Mega steel plant in Keonjhar district with 5 MTPA capacity
Joint venture between JSW Group and POSCO
Land acquisition process has begun with funds deposited

Odisha Secures $5.5 Billion Steel Plant, Boosting Local Economy

On August 3, 2025, Odisha Chief Minister Mohan Charan Majhi revealed that the land acquisition process for a $5.5 billion mega steel plant in Keonjhar district will begin shortly. The project, a joint venture between India's JSW Group and South Korean steel giant POSCO, will have an initial production capacity of 5 million tonnes per annum (MTPA).

The state government has already identified two land parcels for the plant, one near Taramakant and another at Patna. Majhi stated that the company has deposited the necessary funds, allowing the land acquisition to move forward. The establishment of this steel mill is expected to significantly boost the mineral-rich Keonjhar district's economy and provide new employment opportunities for local youth.

Majhi has made the setting up of this mega steel plant a priority for the district, which currently lacks large-scale industries. The state government has also undertaken several other development projects in Keonjhar, including national highway expansion, ensuring ample funds for the district's progress.

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