Verma for faster clearance of pending steel projects

Steel Minister Beni Prasad Verma today said that getting necessary clearances for pending projects worth Rs 11 lakh crore would be his priority in the office as these are linked with development.

"If there is no income, how can we ensure development for the country," Verma said  soon after assuming office as the new Steel Minister.

Various issues relating to environment, forest and others have stalled work on 222 greenfield projects, including Posco and Arcelor Mittal, across different parts of the country.

Verma said that India needs projects of these magnitude to ensure steady income for the country and its population.

Asked about Rs 1.5 lakh crore mega projects of giants like ArcelorMittal and Posco, stuck for various regulatory clearances, Verma said he will look into the issues.

"I will try my best to increase the production and fulfil demand," he said.

Both ArcelorMittal and Posco had entered into pacts with Orissa and Jharkhand governments over five years back for setting up Rs 1.5 lakh crore projects which remain stuck in want of various regulatory clearances.

A seasoned politician from Uttar Pradesh, Verma said the largest state of the country, Uttar Pradesh, would find a special position in his scheme of things and the state deserves to get a better pie of the steel sector.

"I want to ensure a good justice to Uttar Pradesh since it is the largest state in the country. UP is my priority," he said.