Ratan Jindal received double bonanza on the very last day of 2009.

So the Vice Chairman and Managing Director must be very upbeat about the future of the JSL Limited.

With the State Level Single Window Clearance Authority (SLSWCA) clearing both of its mega projects Mr.Jindal’s team of JSL are in a happy mode.

Tarun Kanti Mishra, Chief Secretary chaired the SLSWCA meeting here on 31 December, which cleared most of the proposals posed for approval, said an official.

JSL Limited posed a proposal to set up a Super Critical Thermal Power Station of 1320 (660X2) megawatt capacity, which has been cleared in the meeting.

The Rs.4090 crore Greenfield project will be set up at Luni in Dhenkanal district.

Most importantly JSL, which is setting up a 3.20 million ton per annum (MTPA) capacity stainless steel plant at Kalinga Nagar has proposed to set up Stainless Steel Park (SEZ) with an investment of Rs.740 crore. 

SLSWCA cleared the project as this will further value addition, provide the necessary infrastructure and support facilities for the setting up entire down stream industries.

The park will promote auto components, kitchen & life style, light engineering, white goods, cold rolling, pipes and tubes, and service centre.

It will enjoy the economies of scale, more competitive in international market and easy marketability as it will be located in SEZ.

300 acres of land for the park is needed for the park, which will have man power requirement of more than 2000, said sources.

JSL plant is likely to produce stainless steel by end of 2010 and the park is also to be completed by the same time reveal the SLSWCA Report.

Rajdeep Mohanty, Chief Resident Manager, JSL expressed happiness over the positive developments.

Mr.Mohanty said that the company will adhere to its principle of promoting more and more down stream industries in future.