JSW Steel witnessed a marginal decline of nearly 1% in its stock at the opening on January 8, following the news that its subsidiary, JSW Utkal Steel, successfully acquired possession of land in Odisha for the establishment of a greenfield steel plant.
The Odisha government handed over 2,677.80 acres to JSW Utkal Steel, enabling the initiation of a greenfield integrated steel plant in Jagadsinghpur with a substantial capacity of 13.2 million metric tons per annum (MTPA), as detailed in JSW Steel’s regulatory filing on January 8.
While the plant required a total of 2,950.31 acres, the allotted land included 2,677.80 acres of forest land. Notably, the non-forest land of 272.51 acres had already been leased to JSW Utkal by the Odisha government, as reported by the company.
As of 10:17 am, JSW Steel shares were trading 0.14% lower at ₹828.20, with investors observing the development closely amidst the broader market dynamics.
