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Odisha urges downstream steel cos to invest in state

Press Trust of India  |  New Delhi 

The today exhorted the downstream industry to invest in steel and stainless steel sectors in the state and avail benefits of investment-friendly schemes.

The industries department held talks with over 70 companies in this regard, an official statement said.

The state has invited them to invest in the downstream ecosystem and assured them of the best infrastructure, it added.

The industry meet saw attendance of several ancillary firms from Odisha, Jharkhand, West Bengal, Andhra Pradesh, and Maharashtra.

Sanjeev Chopra, Principal Secretary, Industries Department, outlined the comprehensive strategy the state has put in place to accelerate growth of the downstream sector.

"A special category has been given to the downstream sector in the state's industrial policy and there is great scope for growth... This is an opportune time for the industry to closely look at setting up base at Kalinganagar industrial region," Chopra was quoted as saying.

Nearly 10 per cent of the land for large projects has been earmarked for setting up ancillary and downstream industrial facilities, the official added.

He promised that on the basis of nature of investments, the state will provide a host of fiscal incentives, including power subsidy, and other non-fiscal ones to downstream companies.

He also assured them not to worry about the shortage of raw materials.

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

First Published: Tue, September 12 2017. 21:22 IST