Tata Steel Plant at Kalinganagar

By Bizodisha Bureau, Bhubaneswar, September 12, 2017: The Odisha government is mulling over fiscal and non-fiscal incentives based on the investments in downstream steel and stainless steel sectors, officials said here.

The industries department of Odisha on Tuesday held talks with over 70 companies and invited them to invest in the state’s downstream ecosystem and in the Kalinganagar National Investment and Manufacturing Zone in the state.

The meet was attended by several ancillary firms from Odisha, Jharkhand, West Bengal, Andhra Pradesh, Kerala and Maharashtra.

The Odisha government has belatedly identified downstream in the steel sector as a focus sector for growth.

Addressing the downstream and ancillary firms, Industry Secretary Sanjeev Chopra said that Odisha has put in place a comprehensive strategy to accelerate the growth of the downstream sector with committed feedstock and common facilities.

He said the state has undertaken several initiatives over the past years for ease of doing business.

Odisha Industrial Infrastructure Development Corporation (IDCO) Chairman-cum-Managing Director Sanjay Singh said: “Ancillary and downstream industry in the metal sector is a priority sector for Odisha. In order to leverage this industry, the Government of Odisha has developed investment regions and industrial parks including Kalinganagar National Investment and Manufacturing Zone, Downstream Aluminium Park at Angul, Downstream Steel Park at Angul and Stainless Steel Industrial Park at Kalinganagar.”

He further added, “Nearly 10% of the land for large projects has been earmarked for setting up ancillary and downstream industrial facilities. Additionally, basis the nature of investments, the state will provide host of fiscal incentives including power subsidy and various other non-fiscal incentives to the downstream companies.”

Sunil Bhaskaran, Vice President (Corporate Services), Tata Steel, said the presence of downstream and ancillary industries is essential to create a favourable ecosystem for smooth functioning of any large-scale steel plant.

Odisha is the largest stainless steel producing state in the country and has 20 per cent of the country’s crude steel making capacity. With the country’s economy expected to grow rapidly in the near future, the requirement for value added products will multiply thus offering a good potential for downstream development in the steel sector, Bhaskaran added.

The presence of large steel and stainless steel players like Tata Steel, Jindal Stainless Ltd, Jindal Steel & Power Ltd and Bhushan Steel will ensure raw material for the downstream metal sector like equipment manufacturing, foundries, flat/cold rolled products, fabrication, machining and precision equipment, appliances and white goods, auto components, fasteners and kitchenware in Kalinganagar.

Odisha’s Single Window Clearance Authority is also committed to review and dispose all investment proposals in 30 days.