Bhubaneswar: With Japan government expressing interest to invest in Odisha's steel sector, the Centre and state government on Thursday offered an exclusive Japanese Industrial Cluster & Township near here.
Union Steel Minister Dharmendra Pradhan and Odisha Chief Minister Naveen Patnaik on Thursday discussed prospects of Japanese investment for the development of an integrated steel cluster in the state during a discussion with Japanese Ambassador Santoshi Suzuki.
"Japanese investments and technology flow into Odisha will strengthen the steel sector, generate large scale employment and create a win-win situation for all stakeholders," said Pradhan.
More than 75 per cent of India's envisioned incremental steel capacity will come from eastern India with Odisha alone crossing 100 MTPA, he said, adding that there is immense scope for growth in high-grade steel, downstream sector, ancillaries, capital goods and cluster development.
"Japanese technological expertise and investments will further strengthen the steel sector in Odisha and drive socio-economic growth," he said.
During the occasion, CM Naveen Patnaik said the state government is now focusing on encouraging value addition in steel and stainless steel so as to achieve at least 50 per cent value addition by 2030. In this context, he proposed Japanese investment in the sectors such as automobiles, food processing, chemicals and petrochemicals.
The Chief Minister urged Suzuki to consider making Japan the country partner for Make In Odisha Conclave 2020 and expressed hope for wider and deeper engagement between Odisha and Japanese industries in the coming years. Japan had been the country partner for Make In Odisha Conclave 2018.
Union Additional Secretary, Steel, Rasika Chaubey, gave a presentation about the new initiative called Purvodaya, which aims to drive accelerated development of eastern India through the establishment of integrated steel hubs in eastern states for which Odisha has the best potential.
"Mission Purvodaya in the steel sector envisions creating an integrated steel hub in eastern India. With an abundance of raw material, strategic location and strong and developing connectivity Odisha is well-poised to be the heart of this eastern steel hub," said the Union Minister Pradhan.
(With Agency Inputs)