JSW Group said it would invest Rs 150 crore in setting up a 1.2 lakh metric tonne colour coated steel manufacturing facility in Jammu and Kashmir.
Group company JSW Steel will set up the plant, JSW Group said in a statement. “SW has committed to setting up a state-of-the-art colour coated steel manufacturing facility of capacity 1,20,000 metric tons per annum along with special lines,” it said.
The statement noted that steel sandwich panels and steel doors would be constructed and manufactured at the unit for the local market in Jammu and Kashmir.
According to the statement, Union Home Minister Amit Shah presented land allocation papers to Sajjan Jindal, Chairman & Managing Director of JSW Group.
This facility will be set up with around Rs 150 crore at Lassipora, Pulwama in Kashmir.
Sajjan Jindal, Chairman of JSW Group, said, “This facility shall provide immense benefits to local businesses and society in a meaningful way and provide employment opportunities to the local youth.”
IT is a humble contribution of the JSW Group to spur the economic rejuvenation of Jammu and Kashmir, he further added.
The JSW Group
JSW Steel is India’s leading integrated steel company with a capacity of 27 million tons domestically. JSW Group is an Indian multinational conglomerate based in Mumbai.
It supplies a wide gamut of steel products, including Hot Rolled, Cold Rolled, Bare & Pre-painted Galvanized & Galvalume, TMT, Wire Rods, and Special Steel.
The group is active in steel, energy, minerals, ports & infrastructure, and cement across India, the US, South America, and Africa. JSW Steel, JSW Energy, JSW Ispat Steel, and JSW Cement are among the subsidiaries of JSW Group. Sajjan Jindal leads it and is part of the O.P. Jindal Group.
Earlier, the name was Jindal South West, and later, the company adopted the name JSW to promote it as a brand. The headquarters of JSW Group is at JSW Centre in Kalina, Mumbai.
JSW Steel has consistently maintained its leadership position in exports of steel products since 1995 and exports to over 100 countries globally. By 2025, JSW Steel aims to produce 40 million tons of steel annually.
The Changing Face of Kashmir Economy
In January, the Indian government launched a $3.8 billion incentive program to attract investment into the federally-controlled territory of Jammu and Kashmir. New Delhi emphasized that the rise in terror incidents will not deter it from bringing capital to Kashmir.
The government aims to bring around $7 billion investment in Kashmir before 2022.
Last week, Dubai signed an accord with the Indian government to build a hospital, IT parks, and other infrastructure in Kashmir.
The Himalayan region is primarily dependent on farming, handicrafts, and tourism.
The government scrapped Article 370 of the Indian Constitution in August 2019, ending the special status for Kashmir, which was the main feature for its accession to India in 1947.
