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The question asks which of the given pairs of project and company is incorrect.
Option 1: Integrated Steel Plant at Jaipur (Orissa) Steel Authority is incorrect because there is no such steel plant in Jaipur, Orissa. The Steel Authority of India has an integrated steel plant in Rourkela, Orissa, not Jaipur.
Option 2: Power Plant at Jamnagar (Gujarat) Essar Power is correct. Essar power indeed has a power plant located in Jamnagar, Gujarat.
Option 3: Nabinagar Power Plant (Bihar) Indian Railways is also correct. Indian Railways through its subsidiary Nabinagar Power Generating Company operates a thermal power plant in Nabinagar, Bihar.
Option 4: Kayamkulom Power Plant (Kerala) National Thermal Power Corporation is correct as well. National Thermal Power Corporation operates the Kayamkulom power plant in Kerala.
Therefore, the answer given (Option 1) is correct because it is indeed the only pair that doesn`t correctly match the project with the company.