Citing eastern region with rich mineral resources has a great potential for development of the steel industry, Union Minister Dharmendra Pradhan has said steel ministry is planning at an aggregate investment of $70 billion in the eastern region of the country through accelerated development of the sector. The minister mentioned that the underdeveloped districts in West Bengal, Chhattisgarh, northern Andhra Pradesh, Jharkhand and Odisha have to be taken forward for development of the steel sector.
He further stated that according to the National Steel Policy announced in 2017, the government is aiming at a total production capacity of 300 million tonne by 2030 and out of which, around 200 million tonne is envisaged from the five eastern states. He added the region has rich deposits of coal, iron ore and bauxite.
Besides, he highlighted that as much as 90 million tonne of steel is produced in the east, out of the total production volume of 140 million tonne in the country. Moreover, the steel ministry's additional secretary Rasika Chaube said the eastern region has a natural advantage and potential to contribute to India's target of achieving an economy of $5 trillion within 2024-25, adding that the sector has the capability to act as a catalyst.
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