Bhubaneswar : Odisha Principal Secretary, Hemant Sharma, today 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
Speaking at a webinar on “Production Linked Incentive (PLI) Scheme for Speciality Steel Industry of Odisha” jointly organised by FICCI and IPICOL, Mr Sharma 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.
- The Union Cabinet has approved a Rs 6,322 crore production-linked incentive (PLI) scheme for speciality steel that is expected to attract investments of around Rs40,000 crores and Odisha being a leader in the steel sector will further extend the necessary help to the downstream industries to multifold the production.IPICOL, MD Bhupendra Singh Poonia, said ‘’we are doing reforms and taking measures to make the state more industry-friendly and invited companies to visit and explore the investment opportunities in Odisha.
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.
Several steel and downstream industries are already in various stages of implementation.
With the new opportunities in the downstream sector, the state will soon become, the “Steel Hub of India”, official sources here said.
