JSW contributes 52.5 % – lion’s share of the entire state mining revenue from auctioned mines
Bhubaneswar/Kalinga Voice) : JSW yet again becomes the single highest contributor to the total mining revenue earned by the Government of Odisha that is Rs 12,210 crore contribution in way of premium and other statutory dues this fiscal(upto March 31). The company has given returns to the tune of 11,686 Cr by way of bid premium alone to the State government in 2021-22. Last FY, the total mineral revenue contribution from the JSW was 3650 Cr, which has witnessed a significant jump in 2021-22.
The revenue by means of premium and other dues from the auctioned captive mines of JSW Steel, translate to 52.5 % of the mining revenue of Rs 24,171 Crearned by the state exchequer from auctioned mines.Speaking of 4Q 2021-22 revenue contribution, JSW, from its captive mines, has extended close to 3517 Cr with all statutory dues put together. It is to be noted that for the month of March, its revenue contribution from mines has surpassed 1900 Cr.
Mining revenue has contributed to 90 % of the state’s own non-tax revenue as per the recently tabled interim budget. Substantial mining revenue from the auctioned blocks have further strengthened the state economy in recent times. JSW particularly has championed the auctioning of mines in Odisha and has firmly upheld the vision of growth for the State and its people.
Production &Despatch
Production from the auctioned mines of JSW stood at 24.1 MT and the despatch figure was 21.3 MT for current fiscal. In contrast, for 2020-21, production and despatch were 16.66 MT &9.67 MT respectively.
JSWlaunched mining operations in July 2020 amidst all supply chain disruptions during pandemic and has progressively ramped up production targets month on month to achieve the major milestone of iron-ore despatch surpassing 1 lakh tonnes on a single day. Once operational with full capacity, these mines are expected to produce around 36 MT per annum.
The State has collected over 48, 000 Cr from mineral-based revenue this year, which is inclusive of approximately 971 Cr from coal mining. In 2020-21, State had collected near about 13,800 Cr mineral revenue and there has been a significant jump. The projected mining revenue for the State for current fiscal is 46,000 Cr. JSW Group companies’ cumulative contribution at Rs 12,683 Cr is 26 % of the mineral revenue earned by State. JSW would be stepping up production targets to have a solid partnership with the State and has set a robust target of 28 MTproduction for the current fiscal.
Odisha is among the first few states to come up with a SDG-linked budget, which would translate to focused spending in sectors such as public health, education and so on. Owing to gains in mineral revenue Rural development expenditure outlay has witnessed a fillip in the interim budget. And JSW is proud to be associated in this vision of a vibrant Odisha.
