Jindal Steel and Power Ltd (JSPL) will invest Rs 500 crore to set up a downstream industrial park spread over 1,400 acres at Parang in Angul, Orissa. The company signed a memorandum of understanding with the State Government on Wednesday in this regard. The industrial park, expected to be operational by end-2014, will provide basic infrastructure including land, water and electricity for entrepreneurs to set up their units, JSPL said in a statement. JSPL expects that total investment from prospective investors in the proposed park to cross Rs 5,000 crore.
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