Bhubaneswar, Nov 15 (IANS): Jindal Steel and Power Ltd (JSPL) Tuesday signed a memorandum of understanding with Odisha to set up an industrial park in Angul district, a company official said.
The park is planned at Parjang, about three km from the site where JSPL is setting up a six million tonne per annum integrated steel plant, Rajesh Jha, executive director of the company's Odisha project told IANS.
The industrial park will be set up over an area of 1,400 acres in the district, 160 km from here, and will focus on downstream units that would both add value and result in increased industrial activity, he said.
It is expected to become operational from 2013-14. To be set up with an investment of Rs.500 crore, the industrial park would create direct and indirect employment for approximately 32,000 people, he said.