JSW Group is investing ₹1 lakh crore to construct a 25 million tonne steel plant in the Gadchiroli district of Maharashtra. This would make it the world's largest steel plant.

The ₹1 lakh crore investment will be distributed over the next seven to eight years.

The plant will be located in Gadchiroli, Maharashtra, a district known for its high-quality iron ore reserves.

The plant will have a capacity of 25 million tons per annum. This will nearly double JSW's steel-making capacity, which is currently at 28 million tonnes. It will be three times larger than India's biggest steel unit in Bhilai.

The first phase of the project is expected to be completed within four years. The entire plant is projected to be built in seven years.

The Gadchiroli steel plant is intended to be environmentally friendly.

The project is expected to create employment opportunities and stimulate economic growth in the Vidarbha region of Maharashtra. Gadchiroli may become a major steel supply source, potentially influencing India's steel rates.

JSW Group has signed a memorandum of understanding with the Maharashtra government to invest ₹3 lakh crore across various sectors, including steel production, renewable energy, cement, lithium-ion battery manufacturing, and electric vehicles. This broader investment aims to generate 10,000 jobs across Gadchiroli, Nagpur, and Sambhajinagar.

The National Steel Policy (NSP) 2017 aims to increase steel production to 300 million tonnes by 2030.

Agencies