Even as mega steel projects proposed by POSCO India and ArcelorMittal have been unable to make any headway investments worth INR 56,090.34 crore have been grounded in the steel sector in the state.
Mr Raghunath Mohanty minister for industries and steel & mines said “We reviewed the status of all the MoU signed steel companies last week. Out of the total investment of INR 0.213 million crore proposed in the steel sector, investment worth INR 56,000 crore have already been grounded and a steel capacity of 8.66 million tonnes per annum have been achieved. 29 companies have begun partial production and the sector has generated employment for around 75,000 people.”
Among the companies that have made major investments are Jindal Steel & Power Ltd, Bhushan Power & Steel Ltd, JSL Ltd, Essar Steel, TATA Steel, Adhunik Metaliks Ltd and Brahmani River Pellets Ltd.
POSCO India has invested INR 329.15 crore while ArcelorMittal is yet to make any investment on its Greenfield steel project. Other steel investors who are yet to invest anything are Amtek Metal and Mining Ltd and Deo Mines & Mineral Ltd.
(Sourced from BS)
