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Japan contemplating investing in Indian steel sector

International   |   Glibs Quick   |   Feb 28, 2020, 13:23 PM

Petroleum and Natural Gas & Steel Minister Shri Dharmendra Pradhan today met Chief Minister, Odisha Shri Naveen Patnaik, along with H.E. Ambassador of Japan to India, Mr. Satoshi Suzuki, in Bhubaneswar. Avenues for collaboration, particularly in the steel sector were discussed.

Shri Pradhan, during his discussion with Japanese Ambassador in Delhi, had invited him to Odisha, to explore immense opportunities which exist in the state in steel sector. Minister Pradhan said, “Government of India is keen to have Japan to be partner country in Mission Purvodaya envisioned by Hon. Prime Minister Shri Narendra Modi to ensure development of Eastern India.Japanese investments and technology flow can create a win-win for all stakeholders, generate large scale employment and script a better future for people of Odisha.”

Speaking about Odisha’s potential, Shri Pradhan said, “With abundance of raw materials, strategic geographical location and strong and developing connectivity, Odisha is well poised to be the heart of this eastern steel hub.In Odisha, Kalinganagar will be developed as the epicentre of Mission Purvodaya. Working together with the Odisha Govt. central ministries and industry, Steel Ministry aims to make Kalinganagar, a vibrant hotspot of global steel industry.”

Mission Purvodaya in steel sector envisions to create an integrated steel hub in Eastern India.

More than 75% of India’s envisioned incremental steel capacity will come from eastern India, with Odisha alone crossing 100 MTPA. There is immense scope for growth in high grade steel, downstream sector, ancillaries, capital goods and cluster development. Japanese technological expertise, investments will further strengthen the steel sector in Odisha and drive socio-economic growth.

The Ministry of Steel in association with Ministry of Economy, Trade and Industry, Government of Japan and Confederation of Indian Industries (CII) is organizinga Workshop on ‘Enabling Procedures for Increase of Steel usage for the Growth of Economy’on Feb 28th, 2020 in Bhubaneswar, Odisha. Shri Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel will be the chief guest.

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