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Business Upturn
03-07-2025
- Business
- Business Upturn
Jindal Steel secures 50-year mining lease for Roida-I Iron Ore and Manganese Block in Odisha
By Aman Shukla Published on July 3, 2025, 21:51 IST Jindal Steel has taken a major step forward in its growth strategy with the Government of Odisha issuing a Letter of Intent (LoI) for a 50-year mining lease for the Roida-I Iron Ore and Manganese Block. Located in the mineral-rich Keonjhar district, the block spans 104.84 hectares and significantly boosts the company's raw material security for long-term operations. The Roida-I block comes with an Environmental Clearance for up to 3 million tonnes per annum (MTPA) and holds a rich mineral deposit of approximately 126.05 million tonnes. This acquisition marks a major milestone in Jindal Steel's efforts to strengthen its backward integration model and support its vision of sustainable, self-reliant steel production. The lease comes after Jindal Steel's successful bid in the e-auction held on June 6, 2025, where it emerged as the Preferred Bidder under the Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015. Pankaj Malhan, Executive Director, Angul, said, 'This mining lease is a critical enabler for our long-term vision of self-reliant steel production. With the Roida-I block, we are significantly bolstering our iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support our growth plans. It is also a testament to Jindal Steel's commitment to Odisha's economic and industrial development through responsible and sustainable mining.' This development is not just a win for the company's operational resilience—it also reinforces its commitment to sustainable mining practices, economic development, and positive community engagement across Odisha's eastern corridor. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
31-05-2025
- Time of India
Odisha govt engineer held on retirement day for amassing assets, disproportionate to income
An Odisha government engineer was arrested on the last day of his service on Saturday for allegedly amassing assets, disproportionate to his income, the state vigilance said. He was apprehended a day after Rs 2.56 crore in cash was recovered and several immovable assets were detected during search operations on the premises linked to the engineer, an official said. "Vigilance sleuths arrested Baikuntha Nath Sarangi , Chief Engineer, Plan Roads, RW (Rural Works) Department," he said. Sarangi, who was scheduled to retire from 34 years of service in the state government as an engineer on May 31, was booked under various sections of the Prevention of Corruption Act, 1988 , the official said. The engineer would be produced before the Court of Special Judge, Vigilance, Angul, he said. Live Events The anti-corruption wing of the Odisha Police raided seven places linked to Sarangi on Friday. When a team of vigilance sleuths reached his residence, he had attempted to dispose of the bundles of Rs 500 notes by throwing them out of the window of his flat in Bhubaneswar, the official said. The engineer was found in possession of assets, including over Rs 2.56 crore in cash, two multi-storeyed buildings, two flats, seven high-value plots, bank deposits worth Rs 1.5 crore, investment in shares, mutual fund and insurance worth Rs 2.7 crore, gold of over 1.141 kilograms, 15 imported wrist watches and others. "These assets are disproportionate to his known source of income as he could not produce satisfactory documents to prove the source of cash and valuables," an official said, adding that the investigation is underway. The cash recovery from Sarangi's places was considered the third biggest seizure by the Odisha Vigilance . The highest cash seizure of Rs 3.41 crore was made from the house of a former assistant engineer of the minor irrigation division in Ganjam district in 2022. Over Rs 3.12 crore was recovered from the house of a former additional sub-collector, Nabarangpur, in 2023, sources in the vigilance said.
Hindustan Times
31-05-2025
- Hindustan Times
Odisha govt engineer held on retirement day for amassing assets, disproportionate to income
Bhubaneswar, An Odisha government engineer was arrested on the last day of his service on Saturday for allegedly amassing assets, disproportionate to his income, the state vigilance said. He was apprehended a day after ₹2.56 crore in cash was recovered and several immovable assets were detected during search operations on the premises linked to the engineer, an official said. "Vigilance sleuths arrested Baikuntha Nath Sarangi, Chief Engineer, Plan Roads, RW Department," he said. Sarangi, who was scheduled to retire from 34 years of service in the state government as an engineer on May 31, was booked under various sections of the Prevention of Corruption Act, 1988, the official said. The engineer would be produced before the Court of Special Judge, Vigilance, Angul, he said. The anti-corruption wing of the Odisha Police raided seven places linked to Sarangi on Friday. When a team of vigilance sleuths reached his residence, he had attempted to dispose of the bundles of ₹500 notes by throwing them out of the window of his flat in Bhubaneswar, the official said. The engineer was found in possession of assets, including over ₹2.56 crore in cash, two multi-storeyed buildings, two flats, seven high-value plots, bank deposits worth ₹1.5 crore, investment in shares, mutual fund and insurance worth ₹2.7 crore, gold of over 1.141 kilograms, 15 imported wrist watches and others. "These assets are disproportionate to his known source of income as he could not produce satisfactory documents to prove the source of cash and valuables,' an official said, adding that the investigation is underway. The cash recovery from Sarangi's places was considered the third biggest seizure by the Odisha Vigilance. The highest cash seizure of ₹3.41 crore was made from the house of a former assistant engineer of the minor irrigation division in Ganjam district in 2022. Over ₹3.12 crore was recovered from the house of a former additional sub-collector, Nabarangpur, in 2023, sources in the vigilance said.
