‘Tatas Ready to Set Up Steel Park in Odisha’

The Economic Times - - Companies: Pursuit Of Profit - Meera.Mo­hanty @times­group.com

Bhubaneswar: Tata Steel is ready to in­vest in a down­stream park on 400 acres next to its Kalin­gana­gar steel plant in Ja­jpur dis­trict of Odisha.

Its re­cent in-prin­ci­ple nod for the down­stream steel park, adding to com­mit­ments made by Jin­dal Steel and Power, Vedanta Re­source, Jin­dal Stain­less and Nalco, is a re­sult of the Odisha gov­ern­ment’s push for down­stream in­vest­ment bank­ing on pri­mary metal pro­duced in Odisha.

Of­fi­cials in the state gov­ern­ment, told ET, Tata Steel had re­cently writ­ten to the state gov­ern­ment con­vey­ing its in­ter­est in an­chor­ing the pro­posed down­stream park next to its new­est green­field plant cur­rently be­ing ramped up from 3mtpa (mil­lion per an­num) to an 8mtpa mil­lion fa­cil­ity.

“We are happy that Tata Steel has also con­veyed its agree­ment to set up an in­dus­trial park in Kalin­gana­gar which will pro­vide a sig­nif­i­cant boost to steel down­stream units. We are ex­pect­ing a for­mal ap­pli­ca­tion from the com­pany soon,” San­jeev Cho­pra, prin­ci­pal sec­re­tary, in­dus­tries depart­ment, gov­ern­ment of Odisha, told ET. Tata Steel did not re­spond to an emailed ques­tion­naire.

One of the con­cerns ex­pressed by the fif­teenth Fi­nance Com­mis­sion, on a re­cent visit to the state, was why Odisha, which had more than 70% of the coun­try’s min­er­als, had such a dis­pro­por­tion­ate and weak con­tri­bu­tion in the coun­try’s man­u­fac­tur­ing sec­tor? The state gov­ern­ment has been on work­ing hard to help ad­dress this anom­aly, while try­ing to re­duce its de­pen­dence on min­eral-based earn­ings.

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