Union Minister assures all help to shore up TS economy

Union Minister assures all help to shore up TS economy
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Highlights

Union Minister for Steel and Mines Narendra Singh Tomar called on Telangana Chief Minister K Chandrasekhar Rao at latter\'s office here, on Monday. They discussed issues of mutual interest with special reference to steel and mines related issues in the state of Telangana. Tomar presented a GSI booklet on geology and mineral resources of Telangana and district resource maps of all districts in Telangana to the Chief Minister.

Hyderabad: Union Minister for Steel and Mines Narendra Singh Tomar called on Telangana Chief Minister K Chandrasekhar Rao at latter's office here, on Monday. They discussed issues of mutual interest with special reference to steel and mines related issues in the state of Telangana. Tomar presented a GSI booklet on geology and mineral resources of Telangana and district resource maps of all districts in Telangana to the Chief Minister.


Tomar assured all possible support in facilitating the state of Telangana to meet its targets of rapid growth and development. He proposed that GSI and MECL, two government organisations under Ministry of Mines can assist the state in assessing its mineral resources for revenue generation. Similarly, the State can consider utilizing the services of MSTC, a PSU under Ministry of steel, for auctioning of mines for monetisation of mineral resources.


KCR thanked Tomar for quick action taken on the points discussed during their last meeting in Delhi in February this year. He sought support in further expediting the steel plant project to boost economy of the state and for employment generation. The Chief Minister assured quick action on identification and auction of mines.


During the meeting, the issues that came up for discussion included the present status of the proposal to set up a 3 million tonnes per annum (MTPA) integrated steel plant in Telangana. Steel Authority of India Limited (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 the state government and government of India. These include tax concessions, interest and capex subsidy and recalculation of IRR.

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