Neelachal Ispat Nigam, a steel PSU jointly promoted by trading firm MMTC and Odisha PSUs OMC and IPICOL, is planning to expand its existing steel plant at Kalinga Nagar, Jajpur. The project involves the augmentation of plant capacity from 1.1 MT to 5 MT per year and will take place in two phases. Company has estimated the project cost to Rs. 56000 Million, of which 30 percent will be acquired through equity and the remaining through debt. As of March 2015, company has announced the project.