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AP, TS pitch for steel plants
Andhra Pradesh and Telangana Chief Ministers have asked the Centre to expedite the process to set up integrated steel plants in their respective states at a meeting with Steel and Mines Minister Narendra Singh Tomar.
Hyderabad/New Delhi: Andhra Pradesh and Telangana Chief Ministers have asked the Centre to expedite the process to set up integrated steel plants in their respective states at a meeting with Steel and Mines Minister Narendra Singh Tomar.
While AP Chief Minister N Chandrababu Naidu proposed the setting up of a joint task force of the Steel Ministry, PSUs and AP government to assess economic viability of setting up of a steel plant, his Telangana counterpart K Chandrashekar Rao discussed the status of the proposal to set up a 3 million tonnes per annum steel plant in Telangana.
Tomar, who has met the Chief Ministers separately in Hyderabad on Monday asked them to expedite the process of auction of mines and setting up of District Mineral Foundation (DMF). "Among other things, the meeting deliberated over the proposed investment projects in the area of steel and mines, and the need to expedite auction of mines and setting up of DMF in these states," the Union Steel Ministry said.
Tomar sought support from AP to expedite mines auction. He assured help in the area of detailed exploration by parastatal agencies -- GSI and MECL, it added. "Tomar also proposed that the expertise of MSTC, a PSU under the Ministry of Steel, which conducted coal auctions, could also be harnessed for conducting mineral auctions in the states," it said.
"The AP Chief Minister requested for including APMDC in the list of exploration agencies, to which Tomar assured positive action in 30 days," the statement said. Projects on the anvil in AP, which were taken up at the meeting, included setting up of an integrated steel plant in YSR district, grant of clearance and approval to steel PSUs for expanding marketing network, allied production facilities and support required to establish bauxite mining and Alumina refinery in the state.
In his meeting with Rao, Tomar proposed that Geological Survey of India (GSI) and the Mineral Exploration Corporation Limited (MECL) can assist the state in assessing its mineral resources for revenue generation, a statement said. "Similarly state can consider utilising the services of MSTC for auctioning of mines for monetisation of mineral resources," it added.
SAIL has prepared a feasibility report and carried out site inspection and market analysis for the same. Accordingly recommendations have been made for consideration by state government and Centre that include tax concessions, interest and capex subsidy and recalculation of IRR, it added.
Also the proposal for allotment of land to Vizag Steel (RINL) in Varangal for better reach and distribution of steel to the state and the identification of mines for auction and further action on that front were also discussed, the statement said.
