BHUBANESWAR: Principal Secretary, Industries Department of Government of Odisha, Hemant Sharma, IAS emphasised that the newly inducted Product Linked Incentive (PLI) scheme on Speciality Steel will improve the production capacity to 60 MTPA from 18 MTPA and invited various steel companies to set up their units in Odisha to produce Speciality Steel.
Advantage of stable governance
Speaking at the webinar on Production Linked Incentive (PLI) Scheme for Speciality Steel Industry of Odisha jointly organised by industry body FICCI and IPICOL, Principal Secretary, Industries Department highlighted the strategic importance of Odisha for the steelmakers such as the abundance of mineral and human resources, high quality industrial and logistic infrastructure, advanced policy framework and most importantly the stable governance.
Expecting ₹40,000 cr investment
The Union Cabinet has approved a ₹6,322 crore production-linked incentive (PLI) scheme for specialty steel that is expected to attract investments of around ₹40,000 crores and Odisha being a leader in the steel sector will further extend the necessary help to the downstream industries to multifold the production.
Invite to explore the opportunities
In the webinar attended by the leading steelmakers across India, MD of IPICOL, Bhupendra Singh Poonia, IAS said that we are doing reforms and taking proper measures to make the state more industry-friendly and has also invited all the companies to visit and explore the investment opportunities in Odisha.
A presentation on the PLI scheme and the advantages of Odisha for the downstream industry was also given to the potential investors.
Partners in Progress
Industry leaders and senior officials from the Government of India and Odisha including V R Sharma, MD, JSPL, Dr. Mukesh Kumar, Director, SRTMI; Kalyan Mohanty, CGM, IPICOL, N Gowri Sankara Rao, Director (Finance), MIDHANI Ltd. Navnath Laxman Vhatte, CEO & Director, ESL Steel, Dr. Anil Dhawan, ED, Alloy Steel Producers Association; Tirthankar Banerjee, Secretary, Steel Wire Manufacturers Association of India, Sanjay Jayram, Executive Vice-President (Sales & Marketing), JSW Steel Ltd.; Pankaj Satija, Chief Regulatory Affairs, Tata Steel Ltd. were also present at the virtual webinar.
20 MT manufacturing capacity
Odisha has been consistently adding steel manufacturing capacity, which has gone up from 2 MT in the year 2000 to 20 MT in the year 2020.
Various Steel and downstream industries are already in various stages of implementation.
Odisha: Steel Hub of India
With the new opportunities in the downstream sector, the state will soon achieve Hon’ble Chief MInister’s Vision 2030 of making Odisha, the Steel Hub of India.
Located on the east coast of India, Odisha has a coastline of 480 km along the Bay of Bengal. The modern State of Odisha was formed on 1 April 1936 but its history dates to the era of Kalinga is mentioned in the Mahabharata.
Over the years the state has maintained a unique cultural identity distinct from all of its neighboring States.
Kwon for mineral and mining strength
Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth.
The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State.
IPICOL: responsible for investment
Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State.
IPICOL is responsible for devising the investment promotion, facilitation, and aftercare strategy for the state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha, undertakes all activities to promote Odisha as the investment destination of choice.
