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Odisha invites downstream steel cos to set up operations

Press Trust of India  |  Mumbai 

today invited companies to invest in the state's vibrant downstream steel and stainless steel sector, assuring them of best infrastructure.

The industries department of held talks with over 70 companies and invited them to invest in the state's vibrant downstream ecosystem, a release said.

The downstream industry meet held at and Jindal Stainless was attended by several ancillary firms from as well as states like Jharkhand, West Bengal, Andhra Pradesh, and Maharashtra.

Odisha Principal Secretary, Industries, Sanjeev Chopra highlighted that the state has put in place a comprehensive strategy to accelerate the growth of downstream sector with committed feedstock as well as common facilities.

"A special category has been given to downstream sector in the state's industrial policy and there is great scope for the growth of the sector in the state. This is an opportune time for the industry to closely look at setting up base at Kalinganagar industrial region. Nearly 10 per cent of the land for large projects has been earmarked for setting up ancillary and downstream industrial facilities," he added.

He also said the state will also provide a host of fiscal incentives including power subsidy and various other non-fiscal incentives to the downstream companies.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 12 2017. 17:32 IST