Bhubaneswar: The Odisha Cabinet chaired by the chief minister Naveen Patnaik may approve the formation of a separate Directorate of Steel I line of the Directorate of Mines. The new entity has been planned to solve the problems faced by the steel sector in the state. The state government last September had decided to form the entity after facing severe criticism over failing to implement several big ticket Steel projects including the POSCO, Arcellor Mittal. The state finance Department has already cleared the proposal and forwarded it to the cabinet for approval.
The proposed Directorate will deal with land acquisition and raw material problems faced by the steel industry. It will work to facilitate implementation of different projects which are lagging behind schedule. An Additional Secretary of Mines Department would be appointed as the Director of the Steel Directorate. The state government may also go for appointment of consultants for the growth of steel companies. While Arcelor Mittal has already withdrawn from the state, uncertainty looms over the USD 12 bn project by POSCO following its decision to suspend operations in Odisha.
Source: Team Metal Orbit
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