image credits: JSW
JSW Group, a leading Indian conglomerate in steel and power, has unveiled plans to establish a copper smelter in Odisha with an initial capacity of 500,000 metric tonnes by 2028-29. This initiative is backed by an investment of approximately ₹12,000 crore.
A Strategic Investment in Odisha’s Future
The copper smelter, set to rise in Odisha’s eastern region, is a significant step toward bolstering the state’s industrial landscape. JSW Group’s decision to venture into copper production comes at a time when India is striving to reduce its reliance on imported copper, a challenge that has intensified since the closure of Vedanta’s Sterlite Copper smelter in 2018. The facility will source copper concentrate from Peru and Chile, ensuring a reliable supply chain. With plans to scale up to 1 million metric tonnes by 2033-34, this project promises to position Odisha as a key player in India’s copper industry, supporting the nation’s demand for this critical metal.
The JSW Group’s commitment to Odisha builds on its earlier investments in the state. In January, the company announced a ₹2,600 crore investment to operate two copper mines from Hindustan Copper for 20 years, with an option to extend for another decade. This smelter project further solidifies JSW’s long-term vision for Odisha, blending industrial growth with sustainable development.
Fueling Economic Growth and Opportunities
The smelter is expected to generate significant employment opportunities, both direct and indirect, offering a brighter future for the state’s youth and skilled workforce. From construction to logistics, the project will also stimulate ancillary industries, creating a ripple effect of economic activity across the region.
The state’s mineral wealth has long been a source of pride, and this smelter will harness that potential in a meaningful way. By processing copper locally, Odisha can retain greater economic value, reducing the need to export raw materials.
Supporting India’s Green Energy Ambitions
The timing of JSW’s initiative is noteworthy. In 2023, India identified copper as one of its 30 critical minerals, recognizing its importance in the transition to green energy. Copper is a vital component in electric vehicles (EVs), renewable energy systems, and advanced manufacturing. JSW plans to supply copper from this smelter to its proposed EV and battery manufacturing facilities, directly supporting India’s clean energy objectives. For Odisha, this means playing a pivotal role in a global movement while strengthening its industrial relevance.
India’s copper demand is projected to double by 2030, driven by the push for clean energy and EVs. Currently, the country produces around 555,000 metric tonnes of refined copper annually, against a domestic consumption of over 750,000 metric tonnes, leading to imports of approximately 500,000 metric tonnes each year. JSW’s smelter will help bridge this gap by reducing import dependency.
Competing on a National Stage
The JSW Group’s smelter will place Odisha in direct competition with other industrial powerhouses. The Adani Group, for instance, has established a $1.2 billion copper smelter in Gujarat, the world’s largest single-location plant of its kind. While JSW’s facility starts at a smaller scale, its phased expansion and integration with downstream industries like EV manufacturing signal a robust long-term strategy. This competition highlights Odisha’s emergence as a preferred destination for large-scale industrial investments, a testament to its business-friendly environment and proactive governance.
JSW’s growing presence in Odisha reflects the state’s ability to balance tradition with modernity. The company’s earlier MoU with the Odisha government to establish a 5-million-tonne steel plant in Keonjhar demonstrates its deep commitment to the region.
