By Abhishek SonkarBhubaneswar, Oct 29 (PTI) Unfazed by Posco's move ofsuspending its plan to set up a Rs 52,000-crore steel plant inOdisha, the state government said a project "with hugeinvestment" is expected as many big companies are showinginterest in the land allotted to the Korean steel major.
In March, Posco-India requested the Odisha government totake back its 2,700 acres of land provided at Paradip inJagatsingpur district for setting up a 12 MTPA steel project.
Consequently, the Odisha government sent a letter toPosco-India informing the land allotted to "it has beencancelled as the land was not utilised even three years afterthe allotment".
The government, at present, expects to allot it tosuitable players.
In an interview to PTI, Sanjeev Chopra, PrincipalSecretary, Department of Industries, Odisha said many bigcompanies from various sectors have submitted expression ofinterest (EoI) for the same land.
However, he did not name any particular firm butaccording to media reports JSW Group has approached the stategovernment for the land.
When asked whether Posco's plan to suspend its projectis a loss of investment, the officer said Odisha is amineral-rich and investment-friendly state that gives variousfiscal benefits to investors.
"A lot of companies from various sectors, from FMCG toSteel, are showing interest in the land. Many big projects cancome on the land which is not very far from Paradip. It is aclear sign of a huge investment," he informed.
According to reports JSW Steel is interested in settingup a steel plant on the land allotted to Posco inJagatsinghpur district.
The company has plans to build mega steel project of 10million tonnes capacity for which it had proposed to set up anintegrated steel project with a captive power plant of 900 MWcapacity with an investment of Rs 50,000 crore.
The official said that any decision related to freshallotment of the land is yet to be taken, and as of now it isnot being given to any one. "We are doing its (the land's)boundary but the preference will be some steel company".
Citing the reasons for receiving expression of interests,he said the investors know that Odisha provides full supportto anyone looking to invest in the state and there areadditional benefits that the state government gives.
Listing the benefits, the officer said investors enjoyease of doing business in the state. Facilities like single-window clearance for projects, incentives, ready-to-use land,already built infrastructure needs like roads, water and powersupply make Odisha an investor-friendly state.
According to an Assocham report, ha said, the state'sindustrial sector contribution to India's industrial sectorwas 3.2 per cent in 2016-17, which was 2.8 per cent in 2011-12. The overall trend indicates a moderate increase over theyears.
Posco had proposed to set up a 12 MTPA plant atJagatsinghpur. In this respect, an MoU was also signed betweenPosco and the Odisha government in 2005 but the plant couldnever be set up due various reasons from delay inenvironmental clearances to protests by the locals and thepact expired in 2010. It was not renewed again. PTI ABI MKJBAL.
This is unedited, unformatted feed from the Press Trust of India wire.