JSW Begins Prospecting At Gadchiroli Iron Ore Block, Steel Plant After Securing Mines

Nagpur: JSW Group has begun prospecting operations at the Gadchiroli iron ore block secured through auctions nearly three years ago, marking the first concrete step towards its proposed 25-million-tonne integrated steel plant in the district, touted as the world's largest.Speaking to TOI on sidelines of the convocation ceremony at Indian Institute of Management (IIM), Nagpur, JSW Group chairman Sajjan Jindal said the company would move ahead with the ambitious steel project once it secures long-term raw material availability through iron ore mining. Prospecting involves assessing the quantity and quality of reserves before extraction."Gadchiroli is ideally suited for steel manufacturing because of its proximity to iron ore reserves. The integrated steel plant will take off once we secure our mines," Jindal said. The proposed project, expected to draw an investment of ₹1 lakh crore.JSW secured a composite prospecting-cum-mining licence for an iron ore block in Gadchiroli along with four other companies. Currently, iron ore mining in the district is undertaken solely by Lloyds Metals and Energy Limited at Surjagarh.Sources said the Maharashtra Industrial Development Corporation has already initiated land acquisition procedures for the proposed steel project.Referring to the region's transformation, Jindal said Gadchiroli's industrial potential remained untapped for years because of Maoist insurgency. "Now mining has commenced in this area, and there is peace," he said.Gadchiroli, once regarded as a Maoist hub, is increasingly emerging as a major industrial destination following improved security conditions and rapid expansion of mining activity.Jindal also confirmed JSW is working on an electric vehicle battery manufacturing project in Nagpur. "We are working on the technology and we will take the next step soon," he said.The company is simultaneously pursuing an aggressive national expansion strategy and aims to increase its overall steelmaking capacity to nearly 50 MT by 2030. JSW has also entered into a joint venture with South Korean steelmaker POSCO for a 6MT steel plant in Odisha.West Asia conflict unlikely to derail India's long-term growth: JindalJindal said corporate balance sheets across sectors have strengthened significantly, triggering a sharp rise in investments in India's manufacturing sector. While the ongoing West Asia conflict has created short-term uncertainty, it's unlikely to affect India's long-term economic trajectory."The crisis may continue for a few days or even a couple of months, but industries plan investments over 25 to 50 years," he said.Jindal added JSW Group is expanding aggressively into electric vehicle manufacturing in line with Prime Minister Narendra Modi's push to reduce oil imports and conserve foreign exchange through electric mobility.