The Chhattisgarh government will sign a memorandum of understanding (MoU) with the Essar group for a steel plant in the Bastar district of the state by the latter, on July 5. | |
| Last month, the state government signed an MoU with the Tatas, who also plan to set up a steel plant in the district. Chhattisgarh Chief Minister Dr Raman Singh discussed the plans on investment in a meeting with the Bastar Development Authority on Saturday. |
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| "The two mega steel plants would not only expedite socio-economic development in Bastar and generate employment opportunities for locals, but will also utilise the iron ore stocks of the district in their plants," Singh told Business Standard. |
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| "Impressed by the new industrial policy of the state, the Essar group has proposed to invest Rs 5,000-8,000 crore in Bastar," Singh added. |
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| However, he said the capacity of the plant and the schedule for installation would be disclosed later. |
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| In spite of Bastar being a den of Naxalites, Singh perceived no threat to industries and said, "The anti-Naxal movement, launched by villagers, reflects their desire to join the mainstream development. The tribal movement would usher in a new era of trust and development in Bastar." |
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| "The development of the region was a top priority of the state government. Elected representatives, the government machinery and employees should realise the needs of tribals and address their problems with sensitivity," Singh added. |
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| A bamboo development authority would also be constituted for promoting bamboo cultivation and bamboo-based industries in the state. |
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