Jindal steel industries has laid foundation stone of its first investment project in Jammu Kashmir, NDTV reported.
A ₹ 150-crore steel processing unit being set up in Pulwama district of south Kashmir is the first such project set up after the abrogation of Article 370 in August 2019.
As per the report, Sajjan Jindal, chairman of JSW group, tweeted photos of a prayer ceremony of the foundation stone at Lassipora Industrial Estate in Pulwama district.
“Proud to announce that we have laid the foundation stone for our new steel processing unit in Pulwama – the heart of Kashmir. Contributing to the growth of the beautiful state of Jammu and Kashmir,” Mr Jindal tweeted.
The J-K administration had granted 70 Kanal (8.75 acre) land to JSW Steel.
In December, the government had told the parliament that over ₹ 1,000 crore investment has come to Jammu Kashmir since 2019.
Figures released by the government in parliament show that in 2017-2018, ₹ 840.55 crore investment came to Jammu and Kashmir.
After 2019, it began to decline. In 2019-20, it was ₹ 296.64 crore; ₹ 412.74 crore in 2020-2021 and in 2021-22, it was down to ₹ 376 crore.