Wednesday 01 September,
More than 80% of furnaces in Orissa went on an indefinite strike to oppose high power cost in the State. The per unit charge of power in Orissa is Rs 4.1 which is around Rs 1/unit higher when compared to power charges in Chhattisgarh.
The furnaces have had a lot of cost pressure recently as Iron ore prices have also been on a rise resulting in expensive Sponge Iron and demand for finish product has been low.
Further, the issues in Orissa are not only limited to Power but they also extend to labour, environment etc.
The association is of the view that they will be able to rope-in the other manufacturers soon, who are not a part of the closure as of now.
Reported by Monica Pattanaik (monica@steelmint.com)
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