Naveen Jindal to set up Rs 42,000-cr Coal-to-liquid (CTL) plant at Angul

Naveen Jindal-led Jindal Steel and Power (JSPL) said it will set up a coal-to-liquid (CTL) plant entailing an investment of Rs 42,000 crore in Odisha.

"We will set up the CTL plant in Odisha's Angul district," Naveen Jindal told reporters after meeting chief minister Naveen Patnaik.

This is the second such proposal by any investor for setting up a CTL plant in the state. Earlier, Tata Group in collaboration with Sasol had evinced interest in setting up a similar CTL plant in the state.

"JSPL will soon sign an MoU with the state government for its proposed CTL plant," state steel and mines secretary Ashok Dalwai said.

The proposed plant would come up over 5,500 acre of land, comprising CTL plant with an investment of Rs 30,000 crore, coal washery (Rs 2,000 crore) and a thermal power plant of 2000 MW capacity for Rs 10,000 crore, the company said on in the proposal submitted to the state government.

JSPL which had already been alloted a coal block in the state, would complete its proposed CTL petroleum project in eight years, Jindal said, adding that about 32,000 people would get employment.

The company, setting up a 6-mtpa steel plant in Angul district, said was optimistic of starting the first phase of power generation from its 810 MW CPP in September next.

Source: Economic Times