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MoU signed companies generate 27,690 jobs

Source : BUSINESS_STANDARD
Last Updated: Mon, Dec 10, 2012 03:51 hrs
An employee inspects a spinning wheel used to roll power wires at the Kei Industries at the industrial estate of Bhiwadi

Steel companies that have entered into memorandum of understanding MoU with the Odisha government have generated direct employment for 27690 people.

Of this 19304 jobs have gone to persons within the state with the balance 8386 jobs going to the outsiders steel & mines minister Rajani Kant Singh informed the state assembly.

The employment generation has been mostly driven by 30 steel units in small and medium scale that have gone into partial or full scale production while big ticket projects struggle to procure land for their mega projects.



Besides Essar Steel Jindal Steel & Power Bhushan Steel and Jindal Stainless none of the mega steel players has made any substantial impact on employment front

Together the 50 steel plants that have signed MoUs with the state government have achieved steelmaking capacity of 1266 million tonne per annum mtpa.

These steel makers have invested Rs 8051617 crore till March 2012The operational steel units have also achieved captive power plant C capacity of 1517 MW.

The steel firms have paid Rs 146286 crore to the state government and Rs 490382 crore as on March 31 2012 by way of taxes An amount of Rs 18720 crore has also been spent by these companies on peripheral development.

Among the 30 firms that have started production Bhushan Power and Steel is the biggest investor with an investment of Rs 22290 crore It has achieved steel capacity of 15 mtpa sponge iron capacity of 15 mtpa and C of 116 MW at its plant at Lapanga near Sambalpur.

It is followed by Bhushan Steel that has grounded an investment of Rs 14000 crore clocking steel production of 45 mtpa and sponge iron output of 238 mtpa at Meramandali in Dhenkanal district

Other major steel investors include Jindal Stee & Power Rs 1139298 crore JSL Ltd Rs 6367 crore Essar Steel Rs 5700 crore.

Tata Steel Rs 3970 crore and Visa Steel Rs 2808 crore Posco India and ArcelorMittal the two big ticket investors that have proposed 12 million tonne per annum steel plants have invested Rs 30008 crore and Rs 7096 crore respectively.

The state government had signed MoUs with 50 players with a combined steelmaking capacity of 8366 million tonnes and total envisaged investment of Rs 23 lakh crore.


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